Olivia borrowed $5,000 for 5 years at 5% simple interest.
1 answer:
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Given:
Steven wrote this equation:
To find:
The error in Steven's reasoning and then find the correct product.
Solution:
We have,
This statement is incorrect because we cannot write product directly as Steven wrote.
We need to multiply the place values of each digit of first number with the place values of second number and then we need to add the resulted values.
Therefore, the correct product is 72.