What is 4% of 700,000?
Understand the Problem
The question is asking for the calculation of 4% of 700,000. To solve this, we will multiply 700,000 by 0.04.
Answer
$28,000$
Answer for screen readers
The answer is $28,000$.
Steps to Solve
-
Identify the percentage to calculate
We need to calculate 4% of 700,000. The percentage can be converted into a decimal by dividing by 100.
So, we have:
$$ 4% = \frac{4}{100} = 0.04 $$ -
Multiply the percentage by the total amount
Next, we will multiply the decimal by the total amount (700,000) to find 4% of that amount.
Thus, we calculate:
$$ 700,000 \times 0.04 $$ -
Perform the calculation
Now, we perform the multiplication:
$$ 700,000 \times 0.04 = 28,000 $$
The answer is $28,000$.
More Information
Calculating percentages is a common task in various fields, from financial analysis to statistical data interpretation. Knowing how to convert percentages to decimals simplifies these calculations greatly.
Tips
- Forgetting to convert the percentage to a decimal form before multiplying. Always convert percentages by dividing by 100.
- Misplacing the decimal point during multiplication. Double-check your work to ensure accuracy.
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