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Faman39
 4 years ago
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.
Faman39
 4 years ago
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.

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anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0what do you think the answer is

myininaya
 4 years ago
Best ResponseYou've already chosen the best response.0Everything looks right If you really want to write r as a percentage you need to do multiply by 100%

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0R should be in percentage form hence u multiply it by 100.D would do 4 me

Directrix
 4 years ago
Best ResponseYou've already chosen the best response.0d. 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%
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