When 24 is subtracted from a number and that difference is multiplied by 1/4, the result is 4. What is the number?
2 answers:
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Simple interest formula:
where
=interest, 
=principal (how much you put in at first), 
=rate as a decimal, and 
=number of years.
Let's plug in what we're given.
Calculate it out...
The interest earned is $70.00.
where
Let's plug in what we're given.
Calculate it out...
The interest earned is $70.00.
