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Concept explainers
To find:Sabino mistake and correct it.
![Check Mark](/static/check-mark.png)
Answer to Problem 35HP
Sabino did a mistake that sabino did not converted months to years as above simple interest formula is used only when time is in years.
Explanation of Solution
Given information:
Principal amount
Time
Interest percent
Concept:
Where
Calculation:
From given information
Principal amount
Time
We know
Using that
We get
Interest percent
We know
Annual interest rate
On substituting values in above mentioned concept
We get
Therefore,
To the nearest cent, Simple interest
Therefore
On comparing above solution with Sabino solution
Sabino did a mistake that sabino did not converted months to years as above simple interest formula is used only when time is in years.
Chapter 6 Solutions
Glencoe Math Accelerated, Student Edition
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