Question

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

Answer 1

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.