~His work shown below.. to solve this probem~

Victor calculates the percentage interest rate he needs to make one hundred dollars in simple annual interest over 2 years on a deposit of one thousand dollars. Where did he go wrong?

He applied the principal and interest to the wrong variables.

He should have divided 2 by 12 to get the value for t.

He misrepresented the earned interest with the final balance.

He should have multiplied r by 100 to get the interest rate as a percentage.

Question

~His work shown below.. to solve this probem~

Victor calculates the percentage interest rate he needs to make one hundred dollars in simple  annual interest over 2 years on a deposit of one thousand dollars. Where did he go wrong?

He applied the principal and interest to the wrong variables.

He should have divided 2 by 12 to get the value for t.

He misrepresented the earned interest with the final balance.

He should have multiplied r by 100 to get the interest rate as a percentage.

anonymous · Answer

$$i = prt$$ $$100 = 1,000 \times r \times2$$ $$r = 0.05%$$

anonymous · Answer

@amistre64 Please help me!!

anonymous · Answer

@kelliegirl33 help!

anonymous · Answer

I = PRT
100 = (1000)(R)(2)
100 = 2000R
100/2000 = R
.05 = R
(.05)(100) = 5%

answer : D

anonymous · Answer

@kelliegirl33 wow you understood that it was 0.005% i wasnt able to put the %. Thanks so much!

anonymous · Answer

no problem :)

anonymous · Answer

by the way    .05 = 5% not .005%