Use the Simple Interest Formula to Determine the Missing Value

question 65

Multiple Choice

Use the simple interest formula to determine the missing value. Round dollar amounts to the nearest cent and percents to the nearest hundredth when necessary
-p = $12,403, r = 3.5%, t = ?, i = $2170.53

• A) t = 7 years
• B) t = 5 years
• C) t = 6 years
• D) t = 4 years