Elementary Math

Question

The nation's wealth in 2007 was about $72 trillion dollars. About how much money did the richest 1% of Americans control? (Recall that they controlled 42% of the nation's wealth.)

Answer 1

We need to determine 42% of $72T

First we convert 42% to decimal. 100% is 1.0. (move decimal 2 to the left). 42% is 0.42.

Then we multiply $72T * 0.42 to get the answer.