Question

Solve i=Prt for t, given that P=$300, 7%, and i=$105.t=

Answer 1

Simple interest formula:

I = Prt

where I is the interest, P is the principal, r is the interest rate (as a decimal), and t is time

Substituting with P = $300, r = 0.07, and i = $105, we get

`\begin{gathered} 105=300\cdot0.07\cdot t \\ (105)/(300\cdot0.07)=t \\ 5=t \end{gathered}`