Question

Suppose a creditor offers you an agreement where the infest accrues as follows: I=Prt, where I is interest owed ($), P is the amount borrowed, r is the yearly interest rate (%) , and t is time (years). What is the mathematical relationship between I and r? Between I and t? If you’re the borrower , why are these relationships important to you ?
PLEASE ANSWER ALL PART OF THE QUESTION BRAINLIEST WILL NOT BE GIVEN UNLESS THERE IS A COMPLETE ANWSER

Answer 1

Answer:

• What is the mathematical relationship between I and r?

        They are in direct proportion or are directly proportional to each other.        

• Between I and t? They are in direct proportion or are directly proportional to each other, too.

• Why are these relationships important to you ? Because they tell you how much the interest that you will owe will grow as the rate (r) or the time (t) increase.

Explanation:

• As given, the interest follows the mathematical relation I = Prt

• In mathematics, two variables are in direct proportional or, what is the same, the variables are directly proportional, if one variable is always the product of the other variable and some constant.

• To state the relation between two variables you say that the other parts on the equation (in this case the amount borrowed, P) are held constant. So, in order to tell the relation between I and r you assume P and t are constant, that leaves you with the relation:

        I = r × constant, which is the definition of direct proportion.

       The same happens when you assume that P and r are constant:

        I = t × constant, meaning, again, that I and t are directly proportional.

• In conclusion, in both cases, the interest that you will owe will increase in a proportional way as the rate or the time increase: if the time is doubled or tripled, the interest will be doubled or tripled. In the same way, if the rate is doubled or tripled the interest will be doubled or tripled.

        That is how direct proportion works: one variable is multiplied by the same factor that the other variable is.