Question

Principal is 15000 interest rate is 8.75 simple interest is 5425.00 what is the time

Answer 1

in simple interest, I=PRT

I=interest

P=principal

R=rate in decimal form

T=time in years usually, but could be months or weeks, dunno

I'm assuming that the 8.75 is 8.75% or 0.0875 in decimal

so

I=PRT

we know I, P, and R, so solve for T

I=PRT, divide both sides by PR

I/(PR)=T

subsitute

I=5425.00, P=15000, R=0.0875

I/(PR)=5425.00/(15000*0.0857)=4.133333333=T

so the time is 4.13333333 units of time