SOLUTION: The formula P=I/RT is used to find the amount of investment when the interest I, and the time of the investment T, as well as the rate R, are known. If I= $100, T= 4 years, and R=1

SOLUTION: The formula P=I/RT is used to find the amount of investment when the interest I, and the time of the investment T, as well as the rate R, are known. If I= $100, T= 4 years, and R=1

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Question 1165782: The formula P=I/RT is used to find the amount of investment when the interest I, and the time of the investment T, as well as the rate R, are known. If I= $100, T= 4 years, and R=10%, then what is the amount of investment?
Answer by ikleyn(52790) (Show Source): You can put this solution on YOUR website!
.

Insert the numbers into the formula and calculate.

Remember that R = 10% = 0.1.

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