The Formula for Finding Simple Interest Is I = PRT $$1 \frac { 3 } { 4 }$$

question 45

Short Answer

The formula for finding simple interest is I = PRT, where I is the amount of interest charged, P is the principal amount borrowed, R is the percent of interest charged, and T is the length of time of the loan. If the interest is $315, the rate is 7.2% and the time is
$$1 \frac { 3 } { 4 }$$ years, how much money was borrowed?

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