<PRE><B>Question 1139098</B>
simple interest formula is i = p * r * n


i is the interest
p is the principal
r is the interest rate per time period
n is the number of time periods


in your problem, the formula becomes 1271.25 = 7500 * r * 3


the time period is in years.


solve for r to get r = 1271.25 / (7500 * 3) = .0565.


confirm by replacing r in the original formula to get:


i = 7500 * .0565 * 3.


solve for i to get i = 1271.25, confirming the solution is good.


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