SOLUTION: the formula for intrest is I=prt. If p=$3500, t=2 years and I=$595, find r.

Question 166274: the formula for intrest is I=prt. If p=$3500, t=2 years and I=$595, find r.
Found 2 solutions by checkley77, Mathtut:
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
595=3500r2
595=7000r
r=595/7000
r=.085 or 8.5% is the interest rate.
Answer by Mathtut(3670) (Show Source): You can put this solution on YOUR website!
595=3500(r)(2)
595/3500(2)=r
119/1400=r
r=.085 or 8.5%
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