Mara found the length of time of an investment. The principal of the investment was $4,300, the interest rate was 6.2 percent, a

Question

3 years ago

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Mara found the length of time of an investment. The principal of the investment was $4,300, the interest rate was 6.2 percent, a

nd the interest was $2,666. Mara made an error in her work.
I = p r t. 2666 = (4300) (0.062) t. 2666 = (266.6) t. StartFraction 266.6 over 2666 EndFraction = t. 0.1 = t.

Mathematics

1 answer:

77julia77 [94] · Answer 1 · 2022-06-19T17:25:53+03:00

77julia77 [94]3 years ago

3 0

well, 6.2% of 4,300 can't be over half. she has made a calculation error, and the real answer is (this is where the mistake was made) 4,300 * 0.062 (not 6.2, because percents are always divided by 100 to make them into a usable number), which is equal to $266.60.