Answer:
remember,a percent means "per 100".You can describe the change as a fraction comparing the amount of change to the original and then use a proportion to rewrite your problem as a percentage out of 100.
Answer:
$91 is the answer.
Step-by-step explanation:
R = 6%
P = $70
T = 5 year
now
I = PTR/100
=(70×5×6)100
= 2100/100
= $21
So,
I = A-P
21 = A-70
21+70 = A
so, A = $91
A = $756.00
(I = A - P = $56.00)
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 4%/100 = 0.04 per year.
Solving our equation:
A = 700(1 + (0.04 × 2)) = 756
A = $756.00
The total amount accrued, principal plus interest, from simple interest on a principal of $700.00 at a rate of 4% per year for 2 years is $756.00.
