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Luba_88 [7]
4 years ago
11

I=$26.25I=$26.25, P=$500P=$500, t=18 t=18 months

Mathematics
1 answer:
Travka [436]4 years ago
7 0
Next time, please include the directions for the problem you post.  Here it appears that you have given the values of I, P and t two times each.  
Unfortunately, I have to guess what you're looking for.
 
Assuming that I=$26.25 is the interest earned on Principal P=$500, and that t is the length of time over which the Principal earns interest,

I=Prt.  With I, P and t given, it's obvious that our job is to find the annual interest rate, r.      So, from I=Prt, we get

$26.25 = $500 (r) (1.5 years)            Solve this for the interest rate, r.  
Express r both as a decimal fraction and as the equivalent percentage. 
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