The smiths bought new furniture that cost $3,298.00. the store offered them
an option of putting $600 down and making equal payments of $300 a month
for 10 months. use the federal reserve system formula to find the apr the
smiths will pay for taking this plan.

10.99%.

Step-by-step explanation:

We have been given that the Smiths bought new furniture that cost $3,298.00. The store offered them  an option of putting $600 down and making equal payments of $300 a month  for 10 months.

First of all, we will find amount paid by down-payments in 10 months.

Total amount paid by Smiths: .

Now we will find amount paid in interest by subtracting initial amount from total amount.

10 months = 10/12 year =5/6 year.

Now, we will use simple interest formula to solve for interest rate.

Therefore, the annual interest rate is 10.99%.

b.) 160 miles on a 5 gallons car

step-by-step explanation:

240/10=24 miles/gallon

160/5=32 miles/gallon

30/1=30 miles/gallon

168/6= 28 miles/gallon

32 miles/gallon is the most amount, so this is the best.