Question

A = $1128.50, P = $925, r = 5.5%, t = ?

Answer 1

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.