My thought process:
I know that to have no letters in their correct spots, I need to use the derangement formula, leaving me with:
$$8!\left(\frac{1}{2!}-\frac{1}{3!}+\frac{1}{4!}-\frac{1}{5!}+\frac{1}{6!}-\frac{1}{7!}+\frac{1}{8!}\right)$$
If that is the total amount, I know I would need to subtract the possible scenarios of one letter being in the right spot, but I cannot figure out what to do.
My question is: What am I supposed to subtract by to give me the possible arrangements with only one letter in the correct spot? Thank you.
Hint: Choose which letter is in the right spot. You then have a derangement on the remaining six letters.