I=prt for t I=105 p=700 and r=0.05

1 answer:

7 0

t = 3

Simple interest will be derived by multiplying the principal, the interest rate, and the term.

Interest = Principal x Rate x Term

Interest = 105
Principal = 700
Rate = 0.05
Term = ?

Based on the Simple Interest formula,

term = Interest / principal x rate
term = 105 / (700 x 0.05)
term = 105 / 35
term = 3

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