How many degrees are there in 5/6 of a revolution?
1 answer:
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Answer: $6280
Step-by-step explanation:
7-month: $6000
rate: 8% annual
First find how much is 7 months out of 12 months (because a year has 12 months and this is annual interest)
Take the amount of months that you're trying to calculate and divide by 12.
Also convert 8% to decimals. You can do this by dividing by 100.
To calculate the interest, simply multiply the amount (6000) times the percentage (0.08) times the amount of months in decimal form (0.583).
(6000)(0.08)(0.583)
$279.84 or ≅ $280.00
Having found the interest, simply add it to the original amount (6000)
6000+280= $6280