A community for students. Sign up today!
Here's the question you clicked on:
 0 viewing
 2 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.
 2 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.

This Question is Closed

benice
 2 years ago
Best ResponseYou've already chosen the best response.1what do you think the answer is

myininaya
 2 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%

A_Level_Student
 2 years ago
Best ResponseYou've already chosen the best response.1R should be in percentage form hence u multiply it by 100.D would do 4 me

Directrix
 2 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%
Ask your own question
Ask a QuestionFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.