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Use the simple interest formula to determine the missing value. p $2,500, r t 6 years, i- $840 (Do not round until the final answer. Then round to one decimal place as needed

Verified Answer :

apologiabiology

I=PRT
840=25006?
840=15000?
divide both sides by 15000
0.056=?
conver to percent
5.6% is the interest

dexteright02

Data:
P (Principal) = $2500
I (Simple Interest) = $840
t (time) = 6 years
r (percentage rate) = ?

Formula:
\(I = P*r*t\)

Solving:
\(I = P*r*t\)
\(840 = 2500*r*6\)
\(840 = 15000r\)
\(15000r = 840\)
\(r = \frac{840}{15000}\)
\(r = 0.056\to\:\boxed{\boxed{r =5.6\%}}\end{array}}\qquad\quad\checkmark\)