Back to Rearrange formulas — Problem 3 · Task Set 29

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Grade 9·8 problems·~12 min·Common Core Math - HS Algebra·standard·hsa-ced-a-4

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Concepts

The formula for simple interest is $I = Prt$ , where $I$ is interest,
$P$ is principal, $r$ is annual rate, and $t$ is time in years.

Rearrange for $P$ : divide both sides of $I = Prt$ by $rt$ to get
$P = \frac{I}{rt}$ .

If $I = 360$ , $r = 0.06$ , and $t = 5$ , what is the value of $rt$ ?