A bicycle company has designed and built a new model of sports bicycle. They have determined that the profit for the sale of the
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well, keeping in mind that a year has 12 months, that means that 8 months is 8/12 of a year, when Mrs Rojas pull her money out.
well, she put in 6000 bucks, got back 160 extra, that's the interest earned in the 8 months.
what if she had left her money for 1 whole year, then
so had she left it in for a year, she'd have gotten 6240, namely 240 in interest, well, what fraction of a year's interest was earned? or worded differently, what fraction is 160(8 months) of 240(1 year)?