I=prt for t I=105 p=700 and r=0.05

t = 3

Simple interest will be derived by multiplying the principal, the interest rate, and the term.

Interest = Principal x Rate x Term

Interest = 105

Principal = 700

Rate = 0.05

Term = ?

Based on the Simple Interest formula,

term = Interest / principal x rate

term = 105 / (700 x 0.05)

term = 105 / 35

term = 3