Answer: £164.50
Reducing 175 by 6% results in 164.5.
The absolute change is:
164.5 - 175 = -10.5
Step-by-step explanation:
The calculation is as follows:
175 - Percentage decrease =
175 - (6% × 175) =
175 - 6% of 175 =
(1 - 0.06) × 175 =
0.94 × 175 =
94 ÷ 100 × 175 =
94 × 175 divided by 100 =
16,450 ÷ 100 =
164.5
So, the final amount is £164.50
According to the rule of 72,
72/rate=time
72÷9.6=7.5 years
An alternative method for resolution using the main formula
2300=1150(1+0.096/4)^4t
Isolate t
t=((log(2,300÷1,150)÷log(1+(0.096÷4))÷4))=7.31 years
I hope this is helpful:-)
