Question

Use the I/PRT triangle method to answer the following question.

a) Interest

b) Principal

c) Rate

d) Time

Answer 1

The I/PRT triangle method is used to solve problems related to interest, principal, rate, and time in financial calculations.

Step-by-step explanation:

The I/PRT triangle method is used to solve problems related to interest, principal, rate, and time. It provides a systematic way to calculate these values in financial calculations. Here's an example:

1. Given the equation: $500 = $10,000 x rate x 5 years
2. To find the rate, divide both sides of the equation by $50,000 (the principal): $500/$50,000 = rate
3. Simplify the equation to find the rate: rate = 1%