Percentage

• 30-Jul-2004, 18:16
Anonymous
Percentage
IF YOU WERE ABLE TO GET 20% OF \$100.00 DAILY FOR 1 WEEK
AND USING ONLY YOUR INTEREST OF \$20.00 WITH THE SAME 20%
FOR 7 DAYS YOU WOULD THEN HAVE 4.00 AND USING THE SAME PERCENTAGE ON THAT. WHAT WOULD YOU HAVE IN 30 DAYS?
i AM USUALLY VERY EXCELLED IN MATH BUT THIS ONE HAS GOT ME
ANY HELP WITH THE SOLUTION PLEASE:?: :?:
• 31-Jul-2004, 14:00
Casiopea
Re: Percentage
Quote:

Originally Posted by HMMMIMSTUMPT
IF YOU WERE ABLE TO GET 20% (interest) OF \$100.00 DAILY FOR 1 WEEK AND USING ONLY YOUR INTEREST OF \$20.00 WITH THE SAME 20% FOR 7 DAYS YOU WOULD THEN HAVE 4.00 AND USING THE SAME PERCENTAGE ON THAT. WHAT WOULD YOU HAVE IN 30 DAYS?

i AM USUALLY VERY EXCELLED IN MATH BUT THIS ONE HAS GOT ME
ANY HELP WITH THE SOLUTION PLEASE:?: :?:

According to what's written,

Quote:

IF YOU WERE ABLE TO GET 20% (interest) OF \$100.00 DAILY FOR 1 WEEK
\$100 x 20% interest = \$20 per day :D
\$20 interest per day x 7 days (1 week) = \$140 interest for 7 days :D

Quote:

AND USING ONLY YOUR INTEREST OF \$20.00 (per day) WITH THE SAME 20% FOR 7 DAYS YOU WOULD THEN HAVE 4.00
\$140 x 20% = \$28 per week :D
\$28 divided by 7 days = \$4 per day :D

Quote:

AND USING THE SAME PERCENTAGE ON THAT (4.00). WHAT WOULD YOU HAVE IN 30 DAYS?
\$4 per day x 20% interest = ____ cents per day x 30 days = \$_____

Hope that helps you along.

All the best, :D
• 31-Jul-2004, 14:46
Francois
If you can reinvest all your winnings, you'll get back 30 days later:
100 * (1+20%)^30 =
100 * 1.2^30 =
100 * 237.3763 =
\$23737.6314

This is the future value of an intial lump sum investment.
(20% a day is a hell of bargain).

FRC

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