The formula for the simple interest, I, is I=prt where p is principal, r is the annual interest rate, and t is the time elapsed in years. A) solve the formula for r. B) use the equation you just found

The formula for the simple interest, I, is I=prt where p is principal, r is the annual interest rate, and t is the time elapsed in years.

A) solve the formula for r.

B) use the equation you just found to determine the annual interest rate on an account that earned $125.00 in simple interest after 6 months with principal deposit of $5.000.00.

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The formula for the simple interest, I, is I=prt where p is principal, r is the annual interest rate, and t is the time elapsed in years. A) solve the formula for r. B) use the …

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