You are scheduled to receive $16,000 in two years. when you receive it, you will invest it for eight more years at 9.25 percent
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Answer:
<h3><u>Let's</u><u> </u><u>understand the concept</u><u>:</u><u>-</u></h3>- Here 12 is 90% of a number.
- So we can say that 90% of That number is 12 .
- In this way we can get the the number
Let,
the number=x
<h3>According to the question ,</h3>- We know 90%=90/100
- so add it
- Now use cross multiplication method
- Now interchange sides .
- Answer will come in decimals so we take approximate value.
The number is 13.