Answer:
Principal = 3500
Time = 8 years
We are given that compound quarterly
So, No. of compounds per year = 2
Rate of interest = 5%
Formula :
Substitute the values :
Interest = 3863.345 - 3500 = 363.345
Hence the total amount in an investment of $3500 that was compounded quarterly for 8 years at a rate of 5% is $3863.345 and the interest that was made on that account mentioned is $363.345
Answer: She had 27.2% correct.
Step-by-step explanation: To find the percent, we can divide the part and whole then multiply the quotient by 100. After that we'll need to convert the percent to a decimal. In mathematical terms, the formula will be,
40% will be the part and 68% will be the whole.
<u><em>Step 1.</em></u>
Convert 40 into a decimal by dividing it by 100.
40 ÷ 100 = 0.4
<u><em>Step 2.</em></u>
Multiply 0.4 by 68.
0.4 × 68 = 27.2
Hence, she had 27.2% correct.