Question

The formula for the amount with simple interest is A = P(1 + rt). Find t if A = 168, P = 150, and r = 0.08.
A. 1.5
B. 2
C. 2.4
D. 3

Answer 1

t = (A/P - 1)/r

t = (168/150 - 1)/.08

Answer 2

@gageallen15 this formula is not simple interest!

Answer 3

I = p * r * t is the right one!

Answer 4

The other is Compound Interest:
A = P ( 1 + r /n ) ^(nt)

Answer 5

@gageallen15 where are you?