In this video we learn how to Use the Simple Interest Formula (I=Prt) to Find r. The simple interest formula is I=Prt. I = interest, P = principal, r = rate, and t = time. We solve the following simple interest word problem: Find the rate if a principal of $8,200 earned $3,772 interest in 4 years.
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CC Licensed Content, Shared Previously
Marecek, L., Anthony-Smith, M., & Mathis, A. H. (2020). Use the Language of Algebra. In Prealgebra 2e. OpenStax.
https://openstax.org/books/prealgebra-2e/pages/6-4-solve-simple-interest-applications. License: CC BY 4.0. Access for free at
https://openstax.org/books/prealgebra-2e/pages/1-introduction