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Faman39 Group Title

Victor calculates the percentage interest rate he needs to make $100 in simple annual interest over 2 years on a deposit of $1000. Where did he go wrong? I = prt 100 = 1,000*r*2 r = 0.05 a. He applied the principal and interest to the variables b. He should have divided 2 by 12 to get the value for t. c. He misrepresented the earned interest with the balance. d. He should have multiplied r by 100 to get the interest rate as a percentage.

  • 2 years ago
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  1. benice Group Title
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    what do you think the answer is

    • 2 years ago
  2. myininaya Group Title
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    Everything looks right If you really want to write r as a percentage you need to do multiply by 100%

    • 2 years ago
  3. A_Level_Student Group Title
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    R should be in percentage form hence u multiply it by 100.D would do 4 me

    • 2 years ago
  4. Directrix Group Title
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    d. He should have multiplied r by 100 to get the interest rate as a percentage. Victor calculates the percentage interest rate he needs Answer should be expressed as a percent. .05 = 5%

    • 2 years ago
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