Asked by H

sue has $400 in her saving account.if the bank pays her 6 1/2% interest,how much interest will sue earn? $26 is my answer right
Answered by Ms. Sue
Right again! You're on a roll! :-)
Answered by jules
What am I doing incorrectly?
i get $2.60.
I know it's the decimal, but can you explain
Thanks
Answered by Ms. Sue
6 1/2% = 0.065

I multiplied: $400 * 0.065 = $26.00

Answered by jules
I multipled
$400 * 6.50

I don't understand.
Answered by Ms. Sue
6 1/2 % is 6.5 parts of 100 or 6.5/100

You need to change the percent to a decimal by dividing: 6.5/100 = 0.065. Another way to do this is to move the decimal point two places to the left.
Answered by Writeacher
Ms. Sue is right.

6½% = 6.5% = .065

just as
8¼% = 8.25% = .0825

You have to move that decimal before multiplying.
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