Answer to Question #199771 in Financial Math for Esaya Chauke

Question

Sefiso’s cost for renting a stand at a market is R2 657,00 for the month. His cost is calculated as 9,5% for

the first R11 000,00 of his income and 13% for his income in excess of R11 000,00. Which of the following

equations best models, i, Sefiso’s income for the month?

[1] (0,095 + 0,13)i − 11 000,00 = 2 657,00

[2] 0,13i − 0,095(11 000,00) = 2 657,00

[3] 0,095(11 000,00) + 0,13i = 2 657,00

[4] 0,095(11 000,00) + 0,13(i − 11 000,00) = 2 657,00

Answer 1

[4] 0,095(11 000,00) + 0,13(i − 11 000,00) = 2 657,00