Convert 7.23% into a decimal

0.0723

Step-by-step explanation:

Percent literally means for each 100, which aligns perfectly with the definition of hundredths (1 hundredth means 1 out of 100 equal parts). In fact, the two concepts are equivalent, and the value 7.23% is the same as 7.23 hundredths. We can write this more precisely with the notation , and multiplying the numerator and denominator by 100 to get rid of the decimal point gives us the fraction , which we can write in decimal form as 0.0723

In general, we can convert any percent to a decimal by dividing it by 100, which has the effect of moving the decimal two places to the left.

step-by-step explanation:

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(a) {a₁, a₁r, a₁r², … a₁rⁿ⁻¹, …}

(b) $59 398

step-by-step explanation:

(a) the annual sequence of profits

aₙ = a₁rⁿ⁻¹

the model for the sequence of profits is {a₁, a₁r, a₁r², … a₁rⁿ⁻¹, …} .

(b) profit after 15 yr

  a₁ = $ 30 000

  r = 1.05

a₁₅ = 30 000 × 1.05¹⁴

a₁₅ = 30 000 × 1.979 93

a₁₅ = $59 398

the profit in year 15 will be $59 398.