Question

Samantha deposit 300 in an account that earns an annual interest rate of 2.5 after nine months she computes the simple interest. What mistakes did Samantha make?

Answer 1

Answer:

She is doing a mistake of calculating interest after 9 months in place of after 12 months.

Step-by-step explanation:

Samantha deposit $300 in an account that earns an annual interest rate of 2.5%.

Now, Samantha after nine months of deposit computes the simple interest.

She is doing a mistake of calculating interest after 9 months in place of after 12 months.

The calculation of interest should be on a yearly basis (i.e. 12 months) as the interest rate is 2.5% per year. (Answer)