7. a gym membership for senior citizens costs $20 to join and $13 per month. how
much would it cost a person to belong to this gym for 2 years?
a. $332
b. $323
c. $308
d. $312

Step-by-step explanation:

Equation: 20+13x   With x representing each month

12 months per year with two years is 24 months

13×24=312

312+20=332

The answer is A, $332

answer: the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

step-by-step explanation:

the given rate of interest i= 85%

in calculating the monthly payment for a loan with an interest rate compounded monthly, the value of the interest rate per period we use in the formula must be in decimal form.

to convert it in decimal, we divide it by 100, we get

hence, the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.