A lawnmower costs $284, and the six-year extended warranty on the lawnmower costs 17% as much as the lawnmower itself. What is the effective price per year of the extended warranty?

The warranty costs 17% of $284, or 0.17 × $284 = $48.28. Divide that cost by 6 years: $48.28 ÷ 6 ≈ $8.05 per year. The effective price is $8.05 per year.

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