Homework answers / question archive / Mara found the length of time of an investment

Mara found the length of time of an investment

Math

Share With

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. What was Mara’s error? Mara did not substitute the values from the problem into the formula correctly. Mara did not multiply correctly. Mara did not divide correctly. Mara divided when she should have multiplied.