If the principal P = $900, the interest I = $819, and time t = 7 years, what is the rate?
I = prt
819 = 900 * r * 7
819 = 6300r
819/6300 = r
0.13 = r
The rate is 13%.
819 = 900 * r * 7
819 = 6300r
819/6300 = r
0.13 = r
The rate is 13%.