Use the formula for simple interest, I = Prt, to find the indicated quantity. 1 = $150; P = $5000; r = 4%; t = ? t= year(s) (Simplify your answer. Type an integer or a decimal.)

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
ChapterP: Prerequisites
SectionP.9: Modeling With Equations
Problem 2E: In the formula I=prt for simple interest, P stands for __________, r for _________, and t...
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Use the formula for simple interest, I = Prt, to find the indicated quantity.
1 = $150; P = $5000; r = 4%; t = ?
t= year(s)
(Simplify your answer. Type an integer or a decimal.)
Transcribed Image Text:Use the formula for simple interest, I = Prt, to find the indicated quantity. 1 = $150; P = $5000; r = 4%; t = ? t= year(s) (Simplify your answer. Type an integer or a decimal.)
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