Simple interest I in dollars is calculated using the formula I=prt. Here, p represents the
principal, or amount, in dollars that is invested or borrowed; r represents the annual
interest rate, expressed as a percent; and t represents time, in years. Find the value of
the remaining variable in the simple interest formula. (Hint: Write percents as decimals.)
1 = $1080, r = 4%, t = 3 years