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. what is the error?

Question

Mathematics

Lola Anderson

4 January, 21:35

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. what is the error?

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Rhett Stein · 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.