A certain bank account is offering an interest rate of 2.4%. If you invest $1,500.00 today and the interest is compounded contin
1 answer:
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He pays $135 for 3 years. So that’s $45/year. Considering 900 is your 100%, how many percents are represented by $45 in 900?
1)
You can see that 900 = 9x100.
So you can divide 900 by 9 to get 100.
That means you can also divide 45 by 9 (it’s proportional)
You have 45 for 900, you divide by 9 so you get 5 for 100 -> 5%
Or 2)
(Photo)
It’s a cross-multiplication :
(45 x 100)/900 = 5%
So the interest rate is 5%.
(Sorry if it’s confusing, English isn’t my first language..)
1)
You can see that 900 = 9x100.
So you can divide 900 by 9 to get 100.
That means you can also divide 45 by 9 (it’s proportional)
You have 45 for 900, you divide by 9 so you get 5 for 100 -> 5%
Or 2)
(Photo)
It’s a cross-multiplication :
(45 x 100)/900 = 5%
So the interest rate is 5%.
(Sorry if it’s confusing, English isn’t my first language..)