The formula used to calculate simple interest is modeled by I=prt, where I=simple interest, p=principle, r=interest rate, and t=time, measured in years. Which of the following options represent(s) an alternative equivalent version of the simple interest formula? Select all that apply.
- p=I/rt
- r=I/pt
- t=I/pr
- All of the above
All of the above represent alternative equivalent versions of the simple interest formula. They all involve rearranging the formula to solve for a different variable.