Principal is $1,800. Rate is 10%. Simple Interest is $360. What's the time? Please show how you go to this answer.
I = PRT
360 = 1800 * 0.1 * t
Solve for t
To find the time, we can use the formula for simple interest:
Simple Interest = Principal * Rate * Time
Given that the Principal is $1,800, the Rate is 10%, and the Simple Interest is $360, we can plug these values into the formula and solve for Time:
$360 = $1,800 * 0.10 * Time
Now, let's rearrange the formula to solve for Time:
Time = $360 / ($1,800 * 0.10)
Time = $360 / $180
Time = 2
Therefore, the time is 2 years.