can you please help me.., with this math problem? |
 Apr 24 2005, 10:02 PM
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#1
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 i <3 peter  Group: Member Posts: 744 Joined: Apr 2005 Member No: 125,986  |
can you guys please help me with this math problem?? thx ;D
At a fixed interest rate, an investment of $8,000 earns $420. How much do you need to invest at the same rate to earn $672? i have no idea how to do this.. :( |
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| *wind&fire* |
Apr 26 2005, 12:18 AM
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420/8000= 0.0525
0.0525x100= 5.25% interest rate 672 must then = 5.25% to be the new interest rate times all by 2 to get whole numbers 1344 = 11% divide by 11 to get 1% 122.1818181818.... = 1% then times it by 100 to get the total price that is invested $12218.181818181...=100% there you go |
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Apr 27 2005, 05:00 PM
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 RAWR. Group: Member Posts: 2,585 Joined: Feb 2005 Member No: 102,641 |
QUOTE(wind&fire @ Apr 26 2005, 12:18 AM) 420/8000= 0.0525 0.0525x100= 5.25% interest rate 672 must then = 5.25% to be the new interest rate times all by 2 to get whole numbers 1344 = 11% divide by 11 to get 1% 122.1818181818.... = 1% then times it by 100 to get the total price that is invested $12218.181818181...=100% there you go  that doesnt actually answer the question tho. The question is not the rate, its how much do you have to invest. The point of mentioning the rate is fixed is that it doesnt change depending how much money you invest, because a lot of banks do that, so they are eliminating variables. If you invest 8000 dollars and make 420 off of interest, then to make 672 dollars of interest, you would have to invest 12800 dollars. easy. |
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| *wind&fire* |
Apr 27 2005, 11:05 PM
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QUOTE(karamelle @ Apr 28 2005, 8:00 AM) that doesnt actually answer the question tho. The question is not the rate, its how much do you have to invest. The point of mentioning the rate is fixed is that it doesnt change depending how much money you invest, because a lot of banks do that, so they are eliminating variables. If you invest 8000 dollars and make 420 off of interest, then to make 672 dollars of interest, you would have to invest 12800 dollars. easy. no i said that at the end... you didnt get it cos you didnt interpret it properly ... the exact number is $12218.181818181... |
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Posts in this topic
KERP1UNK can you please help me.. Apr 24 2005, 10:02 PM
taiwanesegurl first find what the fixed interest rate is
8000xF... Apr 25 2005, 03:45 AM imadorkabledxd omg..this looks so familiar. what grade are u in? ... Apr 25 2005, 01:07 PM starlette ooh fun a proportion!! I was soo good at ... Apr 25 2005, 01:27 PM
KERP1UNK woohoo! thx u guys are awesome :D
QUOTEomg.... Apr 27 2005, 10:49 PM ROARxD i think its one of those porportion problems
8,00... May 4 2005, 05:49 PM
x LUV x ALWAYS x Shouldn't this topic be closed now that her qu... May 8 2005, 11:37 PM |
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