Question

Use the simple interest formula to determine the missing value.p = $960.95, r=4.5%, t= ?, i = $302.70t = years(Do not round until the final answer. Then round to the nearest whole number as needed.)

Answer 1

simple interest formular

S.I = p x r x t/100

where p is the principal

r is the rate

t is the time

so,

p = 960.95

r = 4.5

t = not given

I = 302.70

so making t subject of formula from the main formula

t = I x 100/p x r

t = 302.70 x 100/960.95 x 4.5

t = 30270/4324.275

t = 6.99

t = 7years to the nearest whole number