You invest $720 in an account that has an annual interest rate of 6.2%, compounded semiannually. How much money will be in the a
2 answers:
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To turn into a fraction you should do such steps:
1 step. Set up an equation by representing the repeating decimal with a variable. Using your example, you will let x represent the repeating decimal 0.(6), so you have x=0.666... .
2 step. Identify how many digits are in the repeating pattern, or n digits. Multiply both sides of the equation from Step 1 by to create a new equation. Again, using your example, you see that the repeating pattern consists of just one digit: 6. Now multiply both sides of the equation by
. Thus, you have
or
.
3 step. Subtract the equation in Step 1 from the equation in Step 2. Notice that when we subtract these equations, our repeating pattern drops off. Therefore, .
4 step. You now have an equation that you can solve for x and simplify as much as possible, using x as a fraction: . If you divide both sides by 9, you get
. When simplified, you get that
.
Answer: .