Question

find the missing value, the principal is 15,300 the rate is 3.5% the simple interest is 2,142

Answer 1

you have to find out the number of years

Answer 2

\[Amount = Principal\times{Interest rate}\times{Time}\]

Answer 3

amount = Principal x (1+(interest rate x time))

Answer 4

I=PRT

3.5% = 3.5/100 = 0.035

therefore,
2142 = 15300 x 0.035 x T
2142 = 535.5 x T
T = 2142/535.5
T= 4 years

Answer 5

does that make sense? @triciahickman

Answer 6

thamk you

Answer 7

no problem! c: