Answer: 60%
Step-by-step explanation:
You would first need to write the questio into fractio form. (12/20)
This would then equal 0.6, but since percentages are out of 100, you have to multiply this decimal by 100. This in turn, gives you 60.
Answer:
They need to deposit $31,172.49
Step-by-step explanation:
The compound interest formula is given by:
Where A is the amount of money, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per year and t is the time the money is invested or borrowed for, in years.
In this problem
We want to find P for which when
So
They need to deposit $31,172.49