Question

Janet wants to calculate the time it

takes to earn a certain amount of
interest on a principle amount in an
investment with simple interest.
Using the given formula, solve for "t".
1 = PRT

Answer 1

To solve for "t" in the formula 1 = PRT for interest on a principal amount in an investment with simple interest, divide both sides of the equation by PR to isolate t, then plug in the given values and solve.

Step-by-step explanation:

To solve for "t" in the formula 1 = PRT, where P represents the principal amount, R represents the interest rate, and T represents the time, you can follow these steps:

Step 1: Divide both sides of the equation by PR to isolate T.

Step 2: Plug in the given values for P and R into the equation and solve for T.

Let's say the principal amount is $500 and the interest rate is 3%. Using the formula, we have:

1 = 500 × 0.03 × T

Dividing both sides by 500 × 0.03 gives:

T = 1 / (500 × 0.03)

T = 1 / 15

T = 0.0667 years, or approximately 2.4 days.