The first thing to do is to work out the biggest number that goes into bother 24 and 3. As the only that goes into three- other than 1- is itself, one can assume this is the number we are looking for.
Next, divide bother numbers by 3.
24 / 3 = 8
3 / 3 = 1
You now take 3 out of the brackets, and leave 8 and 1. 24x / 3 = 8x.
3(8x + 1)
Step 1: Multiply the Principal, which is the amount borrowed, by the interest rate.
Step 2: Compute compound interest using the following formula: A= P(1+r/n)
Hope this helps u
The formula is
I=prt
I interest earned 14.65
P initial deposit ?
R interest rate 0.025
T time 2 years
Plug in the formula
14.65=p×0.025×2
Solve for p
14.65=0.05p
Divide both sides by 0.05
P=14.65/0.05
P=293....answer
Hope it helps!
