1 answer:
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Answer:
-19/132
Step-by-step explanation:
To add fractions, find the lowest common multiple of the two denominators and multiply accordingly to make both denominators the same. In this case, the lowest common multiple of 11 and 12 is 132, so we need to multiply the first number by 12 and the second by 11. So we get =
=
Answer and Step-by-step explanation:
First, you need to make the function to represent the information given.
We start with 70,000 in the account, and have an interest rate of 6.2%.
We want to know how long it will take to get $223,200.
The equation for simple interest is:
A =
Where A is the total amount, P is the principle amount of money, r is the rate, and t is the time.
Now, we plug in the values and solve for t.
t = 0.353
Multiply by 100 to get the years.
t = 35.3
So, it will take Allison 35.3 years to get 70,000 dollars to 223,200 dollar with an interest rate of 6.2%
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