Question

The simple interest formula I equals p times r times t gives the interest earned on an investment of p dollars at interest rate r for a time of t years. How much does Hector need to invest at a rate of 2% in order to earn $25 interest in 3 years?

about $417

about $42

about $25

about $1.50

Answer 1

change
I equals p times r times t
into an equation
\[ I = p \cdot r \cdot t \]
where I is interest, p is amount invested (principal), r is rate (interest rate), and t is time (in years)

replace the letters with the number they gave you. can you do that ?