What is the correct formula for calculating centripetal acceleration?

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Sucks@Physics
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What is the centripetal acceleration of a point on the perimeter of a bicycle wheel of diameter 70 cm when the bike is moving 7.0m/s?

I thought the formula was v^2/r =ac

But when I do that i get 1.4m/s^2 and it is not the right answer. Can someone tell me what I'm doing wrong, or if I've used the wrong formula? Thanks
 
Sorry that was supposed to be 1.4x10^2 in the first post
 
Sucks@Physics said:
Sorry that was supposed to be 1.4x10^2 in the first post
I don't see anything wrong with that answer, assuming you gave proper units.