Use the formula for simple interest to find the indicated qu

Use the formula for simple interest to find the indicated quantity: I = $ 425, P = $10,000, r = 7%, t = ?

Given,

Interest (I) = $ 425

Principal (P) = $ 10,000

Rate of interest (r) = 7%

Time = ?

Simple Interest (I) = P * T * r / 100

425 = 10000 * t * 7/100

t = 0.607 years

time in months is =>

in 1 year there are 12 months

so 0.607 years = 0.607 * 12 months

=> 7.28 months