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

Question

3 years ago

11

t I = 275(.8)(12) I = 2,640 a. What did Peter do incorrectly? b. What is the correct amount of interest I NEED HELP.

1 answer:

tatuchka [14] · Answer 1 · 2022-08-26T16:05:02+03:00

4 0

Answer:

What Peter did wrong was that he should have multiplied 275 by 0.08 and 12, not 0.8 and 12. The correct amount of interest he will earn is $264.