Question

Use I = PRT to solve.

(time is in years)
1 = $270,000
P = $150,000
R = 12%
Find T.

Answer 1

Time T = 15 year

Explanation:

Given:

Interest I = $270,000

Principal P = $150,000

Rate R = 12% = 0.12

Find:

Time T

Computation:

I = PRT

270,000 = (150,000)(0.12)(T)

270,000 = (18,000)(T)

Time T = 15 year