mbergstresser mbergstresser

01-12-2020
Mathematics

contestada

Peter is calculating the interest earned on a
deposit of $275 in an account that earns 8%
simple interest after 12 years.

Respuesta :

01-12-2020

Answer:

a) He substituted 0.8 instead of 0.08.

b) $264

Step-by-step explanation:

The full question is: a. What did Peter do incorrectly? b. What is the correct amount of interest?

Using the equation [tex]I=prt[/tex], we can substitute the given values.
I = 275 x 0.08 x 12
I = 264

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