3 years ago

70% of what is $28 dollars?

1 answer:

5 0

19.60 is the right answer u take the percent sign and move it two places to the left. Times that by 28 and get ur answer

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Step-by-step explanation:

The amount formula in compound interest is:

$A=P(1+\frac{r}{n} )^{nt}$

where:

P = principal amount

r = annual interest

n = number of compounding periods

t = number of years

We already know that:

P = $2000

$r = 7\% = \frac{7\%}{100\%}=0.07$

t = 7 (number of years from 6th to 13th bday)

n = 4 (quarterly in a year)

Then,

$A=2000(1+\frac{0.07}{4} )^{(4)(7)}\\\\A=2000(1+\frac{0.07}{4} )^{28}\\\\A=3250.825792\\\\A\simeq3250.83$

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