anonymous
  • anonymous
One hundred dollars is invested at 7.2% interest compounded annually. Determine how much the investment is worth after 1 year.
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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jamiebookeater
  • jamiebookeater
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anonymous
  • anonymous
what's 7.2% of a hundred then?
anonymous
  • anonymous
72?
anonymous
  • anonymous
nu-uh too good to be true, if after a year, 100 dollars becomes 172. that's unthinkable :D

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anonymous
  • anonymous
okay..im lost then
anonymous
  • anonymous
you need a review of what % means?
anonymous
  • anonymous
percent
anonymous
  • anonymous
yeah, so what does 7.2% mean?
anonymous
  • anonymous
7.2 percent... so how do i set up the problem?
anonymous
  • anonymous
% is the same as multiplying by 0.01 XD
anonymous
  • anonymous
okay.. so i multiply .072 by 100?
anonymous
  • anonymous
mhmm... and you get? :)
anonymous
  • anonymous
i got 7.2 as my answer
anonymous
  • anonymous
that's 7.2% of 100 which is what will be added to 100 after a year :)
anonymous
  • anonymous
ok thank you so very much :)

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