How many years will it take for an investment of $1000 to $2500 if it earns 6% compounded monthly?
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Answer:
Rob saved $24 on Saturday.
Step-by-step explanation:
Given:
Rob is saving to buy a new MP3 player.
Money earned in baby sitting = $11
Money saved =$6
First we will find the Percentage of amount he saved.
Percentage of amount he saved can calculated by Amount saved divided by total money earned and then multiplying by 100.
framing in equation form we get;
Percentage of amount he saved =
Now Given:
Money earned in babysitting on Saturday = $44
We need to find the Money he saved on Saturday.
Money Saved can be calculated by Percentage of amount he saved multiplying by Money earned in babysitting on Saturday and then divided by 100.
framing in equation form we get;
Money Saved on Saturday =
Hence Rob saved $24 on Saturday.