You have $55,000 in a savings account that pays 2% interest per year.
the inflation rate that year is 3.24%.
to calculate simple interest: principal x rate x time = interest

1. how much do you make in interest in a year?

2. how much would you need to have made for your spending power to keep up with inflation in that year?

3. how much buying power did you lose in that year because of inflation?

1.) $1,100

2.) $1,782

3.) $682

Step-by-step explanation:

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answer:

total cost for tiles and paints is $924.  

step-by-step explanation:

we have been given that a community hall is in the shape of a cuboid. the hall is 40m long 15m high and 3m wide.

the paint will be required for 4 walls and ceiling.

let us find area of walls and ceiling.

therefore, the area of walls and ceiling is 1410 square meters.

given: cost for 10 litre of paint is $10 and 10 litre paint covers 25 square meter. therefore,

therefore, the total painting cost is $564.

tiles will be required for floor. let us find the area of floor.

given: 1m squared floor tiles costs $3. so,

therefore, the total tiles cost is $360.

now let us find combined total cost of tiles and paint.

therefore, the combined total cost of tiles and paint is $924.