We know the formula for compound interest as
Now, we have been given that Ellen has $125. It means we have
P = $125
From the given directions, we have
On substituting these values in the above mentioned formula, we have
Therefore, Ellen would have $240.08 after 8 years.
Answer:
12.5%
Step-by-step explanation:
The price increased from 800 to 900. So what is the PERCENTAGE INCREASE??
The increase is 900 - 800 = 100
To find this in terms of original, we need to divide 100 by 800 and multiply by 100 to get the "percentage". Let's do it:
So the increase is 12.5% and thus the general sales tax is 12.5%