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1 answer:
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Answer:
5.5%
Step-by-step explanation:
To solve this problem we can use a modified version of the simple interest formula which is shown below:
<em>I = interest amount</em>
<em>P = principal amount</em>
<em>t = time (years)</em>
<em />
The first step is to find the interest gained from the investment.
Next, plug in the values into the equation:
Multiply the bottom values
Divide the values
The last step is to convert 0.055 into a percent:
The interest rate is 5.5%
The total amount of its donated funds is 43.
Given,
In the question:
A charity received a donation of 12.7 million.
If this represents 29% of the charity's donated funds.
To find the total amount of its donated funds.
Now, According to the question:
Based on the given conditions:
Received donation is = 12.7 million
Charity Funds = 29%
Formulate;
12.7 ÷ 29%
12.7/29%
= 12.7/0.29
Multiply both the numerator and denominator with the same integer
= 1270/29
= 43
Hence, The total amount of its donated funds is 43.
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