what is the amount needed?

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 14EA: How much must be invested now to receive $30,000 for 10 years if the first $30.000 is received one...
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If 2 tsp is 20% of the amount needed, what is the amount needed?
Transcribed Image Text:If 2 tsp is 20% of the amount needed, what is the amount needed?
Expert Solution
Step 1

The given problem can be solved using the unitary method:

When 20% is 2 tsp then;

100% is 2/20% = 10

20% = 2100% = 220×100 = 10

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