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2 October, 21:45

Samantha deposit 300 in an account that earns an annual interest rate of 2.5 after nine months she computes the simple interest. What mistakes did Samantha make?

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  1. 3 October, 00:17
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    She is doing a mistake of calculating interest after 9 months in place of after 12 months.

    Step-by-step explanation:

    Samantha deposit $300 in an account that earns an annual interest rate of 2.5%.

    Now, Samantha after nine months of deposit computes the simple interest.

    She is doing a mistake of calculating interest after 9 months in place of after 12 months.

    The calculation of interest should be on a yearly basis (i. e. 12 months) as the interest rate is 2.5% per year. (Answer)
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