Question

How long would it take to earn $6,000 in interest on a principal of $9,000 at an annual simple interest rate of 4.1%? Use the simple interest formula I = prt, where I is the interest earned, p is the principal, r is the interest rate per year, and t is the time in years.

Answer 1

Ok so we are given 6000 and I think that would be I
We are also given 9000, and I think that would be p
Also we are given 4.1% or 0.041 and I think that would be r
So the formula is
I = prt
6000 = 9000*0.041*t So we are trying to figure out t, time
6000/0.041 = 146341.463
146341.463/9000 = 16.2601626
I believe your answer would be 16.2601626, please let me know if that's right because I'm really not sure.