Question

An account earns annual simpe interest. find the interest earned, principal, interest rate, or time

interest earned: $84
principal: 600$
intrest rate: 7%
time: ?

please explain how to do this and give an answer

Answer 1

for this question we use simply the formula of simple interest which is
I=p*i*t
I = interest earned= 84$
i= interest rate= 7%
p= principal amount = 600$
time=?

(84)=(600)(0.07)(t)
t = 2 years