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28 April, 18:57

Suppose that you plan on investing into a account paying simple interest. The formula for simple interest is I = Prt, where I is the interest earned on a investment of P dollars, at the given rate r, over t years. If the banker tells you that the time for your investment is determine by the following t = (I) / r, would they be correct?

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  1. 28 April, 20:22
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    No

    Step-by-step explanation:

    No.

    i = prt is correct; its result is the simple interest earned.

    If you want to solve for time, t, divide both sides by pr:

    i / (pr) = t
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