SOLUTION: Use the simple interest formula to determine the missing value.
p=​$964.55​, r=7.5​%, t=​?, i=​$434.05
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Question 1031000: Use the simple interest formula to determine the missing value.
p=$964.55, r=7.5%, t=?, i=$434.05
Answer by fractalier(6550) (Show Source): You can put this solution on YOUR website!
Since I = Prt, we can find t by dividing by Pr, so that
t = I/Pr = 434.05/(964.55*.075) = 6 years
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