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Thread: Percentage

  1. #1
    Anonymous Guest

    Default 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

  2. #2
    Join Date
    Sep 2003
    Posts
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    Default 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,

    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

    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

    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

  3. #3
    Join Date
    Jun 2004
    Posts
    1,370
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    Default

    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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