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Anastaziya [24]
3 years ago
12

16 is 4% of what number?

Mathematics
1 answer:
IrinaK [193]3 years ago
3 0
16 is 4% of 400 

Change the percentage into a decimal by dividing the decimal over 100:
\frac{4}{100} = 0.04

Divide 16 by the decimal (0.04):
16 \div 0.04 = 400
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It will take 19 years and 6 months for the account value to reach 2900 dollars

Step-by-step explanation:

Given

Principal amount = 1400 dollars

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The formula for simple interest is:

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Putting values

2900 = 1400(1+0.055.t)\\\frac{2900}[1400} = 1+0.055t\\2.071 = 1+0.055t\\2.071-1=0.055t\\1.071 =0.055t

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Keywords: Interest, simple interest

Learn more about interest at:

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