Final answer:
To solve for t, divide the interest amount i by the product of the principal p and the interest rate r. In this case, B) t ≈ 0.7.
Step-by-step explanation:
To solve for t in the equation i = p × r × t, we can rearrange the equation to isolate t. First, divide both sides of the equation by p × r. This gives us i / (p × r) = t. Plugging in the given values, we have $281.40 / ($1,200 × 3.35%) = t.
Simplifying further, we have $281.40 / ($1,200 × 0.0335) = t.
Calculating the expression, we find t ≈ 0.7. Therefore, the correct answer is t = 0.7 (option b).