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Victor calculates the percentage interest rate he needs to make in simple annual interest over 2 months on a deposit of . Where did he go wrong?
Answer
A.) He misrepresented the earned interest with the final balance.
B.) He should have divided 2 by to get the value for t.
C.) He should have multiplied r by to get the interest rate as a percentage.
D.) He applied the principal and interest to the wrong variables

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