a. The formula solved for t is t = I/Pr
b. The value of t in the table is 3 years
Simple Interest
From the question, we are to solve for t in the given formula
The given formula is the formula for simple interest
I = Prt
To solve for t, we will divide both sides of the equation by Pr
That is,
I/Pr = Prt/Pr
I/Pr = t
∴ t = I/Pr
The formula solved for t is t = I/Pr
b. We are to find the value of t when
I = $75
P = $500
r = 5% = 0.05
From
t = I/Pr
t = 75/(500×0.05)
t = 75/25
t = 3 years
Hence, the value of t in the table is 3 years
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