SOLUTION: Use the simple interest formula to determine the missing value. p=​$964.55​, r=7.5​%, t=​?, i=​$434.05

Algebra ->  Finance -> SOLUTION: Use the simple interest formula to determine the missing value. p=​$964.55​, r=7.5​%, t=​?, i=​$434.05      Log On


   

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) About Me  (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