For this case we must find 35% of 280.
Kerrie gets 10% and then 25%. So:
10% of 280:
280 ------------> 100%
x -----------------> 10%
Where "x" represents the amount given by 10% of 280.
Thus, 10% of 280 is 28.
Now, we find 25% of 280:
280 ------------> 100%
x -----------------> 25%
Where "x" represents the amount given by 25% of 280.
Thus, 25% of 280 is 70.
So we have that 35% of 280 is given by:
So, Kerrie's solution is correct.
Answer:
Option A
Answer:
$ 254.85
Step-by-step explanation:
Total amount invested = $ 560
Interest rate = r = 4.8% = 0.048
Time in years = t = 8 years
The formula for compound interest is:
Here,
A is the total amount accumulated after t years. P is the amount invested initially and n is the compounding periods per year. Since in this case compounding is done annually, n will be 1. Using the values in the above formula, we get:
Thus, the total amount accumulated after 8 years will be $ 814.85
The amount of interest earned will be:
Interest = Amount Accumulated - Principal Amount
Interest = $ 814.85 - $ 560 = $ 254.85
By the end of 8 years, $ 254.85 would be earned in interest.