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.

Hey! We 've verified this expert answer for you, click below to unlock the details :)

I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!

what do you think the answer is

Everything looks right
If you really want to write r as a percentage you need to do multiply by 100%

R should be in percentage form hence u multiply it by 100.D would do 4 me

Looking for something else?

Not the answer you are looking for? Search for more explanations.

## More answers

Looking for something else?

Not the answer you are looking for? Search for more explanations.