Westonci.ca is the best place to get answers to your questions, provided by a community of experienced and knowledgeable experts. Discover precise answers to your questions from a wide range of experts on our user-friendly Q&A platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.
Sagot :
At an interest rate of 0.2% per year, $15500 will be reached from $15000 in 16.67 years.
What is percent?
In essence, percentages are fractions with a 100 as the denominator. We place the percent symbol (%) next to the number to indicate that the number is a percentage. For instance, you would have received a 75% grade if you answered 75 out of 100 questions correctly on a test (75/100). A value or ratio that may be stated as a fraction of 100 is referred to as a percentage in mathematics. If we need to calculate a percentage of a number, we should divide it by its entirety and then multiply it by 100.
Here,
Principal=15000
Rate of interest=0.2%
Interest amount per year=15000*0.2%
=$30
Let n be the number of years,
15500=15000+30n
500=30n
n=50/3
n=16.67 years
It will take 16.67 years to reach the amount of $15500 from $15000 at the interest rate of 0.2% per year.
To know more about percent,
https://brainly.com/question/14661262
#SPJ4
Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.
