The simple interest formula I=prt gives the interest earned on an investment of p dollars at interest rate r for a time of t years. How much does Yusuf need to invest at a rate of 6% in order to earn $150 interest in 5 years?
Choose one answer.
A. $60
B. $600
C. $500
D. $5,000

Is something missing from this question? I am having trouble figuring it out... Thanks in advance :)

Question

The simple interest formula I=prt gives the interest earned on an investment of p dollars at interest rate r for a time of t years. How much does Yusuf need to invest at a rate of 6% in order to earn $150 interest in 5 years?
Choose one answer.
	A. $60 	
	B. $600 	
	C. $500 	
	D. $5,000 

Is something missing from this question? I am having trouble figuring it out... Thanks in advance :)

michele_laino · Answer

please you have to solve this equation:
$$150=p*\frac{ 6 }{ 100 }*5$$
now, pleas try to find p, and write your answer