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lord [1]
3 years ago
5

Simple interest I in dollars is calculated using the formula I=​prt, where p represents the​ principal, or amount in dollars tha

t is invested or​ borrowed; r represents the annual interest​ rate, expressed as a​ decimal; and t represents​ time, in years. Find the value of the variable​ t, using the simple interest formula.
I=$540, p=$4800, r=4.5

Write the interest rate r as a decimal.

r = ?
Mathematics
2 answers:
Sergeeva-Olga [200]3 years ago
8 0

and we do this one the same way as the other.


\bf ~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad  \begin{cases} I=\textit{interest earned}\dotfill&\$540\\ P=\textit{original amount deposited}\dotfill & \$4800\\ r=rate\to 4.5\%\to \frac{4.5}{100}\dotfill &0.045\\ t=years \end{cases} \\\\\\ 540=(4800)(0.045)t\implies \cfrac{540}{(4800)(0.045)}=t\implies 2.5=t

bagirrra123 [75]3 years ago
4 0

Answer:

t=2.5

Step-by-step explanation:

We have been given the formula to simple interest. We are asked to find the variable t using the given formula and given values.

Simple interest formula: I=Prt, where,

I = Amount of interest after t years,

P = Principal amount,

r = Annual interest rate in decimal form,

t = Time in years.

Given: I=\$540, P=\$4800, r=4.5

Let us convert our given interest rate in decimal form.

r=4.5\%=\frac{4.5}{100}=0.045

Upon substituting our given values in simple interest formula, we will get:

\$540=\$4800\cdot 0.045t

\$540=\$216t

\frac{\$540}{\$216}=\frac{\$216t}{\$216}

2.5=t

Therefore, the value of t is 2.5 years.

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