Diego puts $500 in a savings account the day his granddaughter is born. He plans to give her all the money in the account, inclu
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Answer:
The percent price reduction was 15.83%
Step-by-step explanation:
we know that
In this problem
$379 represent the 100%
so
using proportion
Find out what percentage represent the difference between the original price and the final price
Formula for compound interest is
Interest = Amount - Principal
Interest = - P
Where r = rate in percent
t = time in years
For Jaina,
P = $300
r= 7%
t = 3 yrs
So, Interest = - 300
For Tomas
P = $400
r= 4%
t = 3 yrs
So, Interest = - 400
So pair of equations for Jaina and Tomas are
Interest = - 300
Interest = - 400