If 40% of a given number is 8, then what is 15% of the given number?
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Answer: She will earn $352.92 as interest.
Step-by-step explanation:
Formula for compound interest
, where P= principal value, r = rate of interest(in decimal) , t= time
As per given , we have
P = $2,500
r = 4.5% = 0.045
t= 3 years
then, Compound interest =
Hence, she will earn $352.92 as interest.