Question

Will give brainliest!!

Answer 1

To calculate the amount that Vince should pay back, we can use the formula of
A = P + PRT
where A is amount (unknown), P is principal ($900), R is rate of interest (1.5%).

Which in this case, Vince did follow the correct formula, but what he did wrong, it that he incorrectly changed the rate to a decimal. Instead, 1.5% should be 0.015 in decimal form.

So, the correct formula should be
A = 900 + 900(0.015x2)
A = 900 + 27
A = 927

So, the correct amount Vince should pay is $927.