The principal represents an amount of money deposited in a savings account subject to
1 answer:
Step-by-step explanation:
So the general formula for compound interest is where t is typically time in years, and n is how many times it's compounded per year. But in this case it's only compounded 1 time per year so the equation is just
. in this case P is the principal amount, r is the interest, and A is the final amount. So the 5% interest rate becomes 0.05 by dividing by 100 to convert it into decimal form and the principle amount of 11,000. This gives you the formula
. This is the answer to the first question where t is the time in years. When it says "Find interest earned" I'm a bit confused, is it giving you x amount of years where you have to calculate the interest earned or does it want a general equation? Because the general equation would be the final amount - the principle amount which calculates the difference. So the equation for interest earned would be
. To calculate the amount of money after 5 years you simply plug in 5 as t. this gives you the equation
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There was a 66 
% increase from Sari's sales from November to December.
To find the percentage increase in her sales, we must first find the amount her sales increased. We can do that by subtracting the greeting cards sold in November from the number of greeting cards sold in December. Substituting values and simplifying, we get that she sold 200 more greeting cards in December.
To find what percent increase this is, we must find what percent 200 is of the number of greeting cards sold in November. We can do this by dividing 200 by the number of cards sold in November (300), and then multiplying by 100 (to make it a percent). Doing this, we get * 100 which gives us our answer of 66 %.
To find the percentage increase in her sales, we must first find the amount her sales increased. We can do that by subtracting the greeting cards sold in November from the number of greeting cards sold in December. Substituting values and simplifying, we get that she sold 200 more greeting cards in December.
To find what percent increase this is, we must find what percent 200 is of the number of greeting cards sold in November. We can do this by dividing 200 by the number of cards sold in November (300), and then multiplying by 100 (to make it a percent). Doing this, we get