Answer:
$137,339.88
Step-by-step explanation:
Here is the equation for compound interest: A=P(1+(r/n))^nt
where A=amount of money, P=principal, r= rate in decimal, n=number of times compounded per t, and t=time
In this case:
A=$250,000
P= ?
r= 0.04
n= 12 month/yr
t= 15 yrs
You can manipulate the equation to solve for P:
P=A/[(1+(r/n))^nt]
Plug in variables then solve:
P=
P=137339.8761 = $137,339.88
According to the solving 78% of the freshman class are Economics majors.
<h3>What does a percentage mean?</h3>percentage, a relative figure signifying hundredths of any amount. Since one percent (symbolized as 1%) is equal to one hundredth of something, 100 percent stands for everything, and 200 percent refers to twice the amount specified.
<h3>Why is it called percent?</h3>The word "percent" comes from the Latin adverb per centum, which means "by the hundred." In the sixteenth century, the Latin expression made its way into English. Later, it was shortened to % with a final period.
<h3>According to the given data:</h3>It is given that the total number of students in freshman class = 6200
Total number of students majoring in Economics = 4836
Here, we are asked to find the percentage of the freshman class who are majoring in Economics.
Percent of students majoring Economics = (Number of students majoring/ Economics Total number of students) x 100
= x 100
= 78%
According to the solving 78% of the freshman class are Economics majors.
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