The answer is 38.8 repeating. Might as well just round it
<span>Simplifying
4x = 92
Solving
4x = 92
Solving for variable 'x'.
Move all terms containing x to the left, all other terms to the right.
Divide each side by '4'.
x = 23
Simplifying
x = 23</span>
Annual rate = 1.05%
Simple interest formula is I = Prt * 100
Where P is principle, I is interest, r is rate and t is time.
Transpose to make r the subject
Prt * 100 = I
r = I/ Pt * 100
Substitute values into the equation.
Let I = $1260, P = $30,000 and t = 4 years
r = $1260/ $30,000 * 4 * 100
r = 0.0105 * 100
r = 1.05%
74% means 0.74
"of" means "times"
So, 128 = 0.74 times (the number)
Divide each side of this equation by 0.74 :
128/0.74 = the number
<em>172.973</em> (rounded) = the number
