Answer:
t = 4
Step-by-step explanation:
Use the formula for amount after simple interest.
A = P(1 + rt)
"A" is amount, or money after the time period.
"P" is principal, or the starting money.
"r" is the rate of interest in decimal form.
"t" is the time, usually in years.
Find "r" as a decimal by dividing by 100.
r = 5.5%/100 = 0.055
Substitute the information into the formula. (Bolded the steps you need to show.)
A = P(1 + rt)
1128.50 = 925(1 + 0.055t)
1128.50/925 = 925(1 + 0.055t)/925 Divide both sides by 925
1.22 = 1 + 0.055t Simplified
1.22 - 1 = 1 + 0.055t - 1 Subtract 1 from both sides
0.22 = 0.055t Simplified
0.22/0.055 = 0.055t/0.055 Divide both sides by 0.055
4 = t Simplified, and final answer
t = 4 Variable should be on the left side
Therefore the time is 4 years.
