Question: 5. The simple interest formula is given by I = PRT, where I = interest earned, P = principal deposited to the account, R =

5. The simple interest formula is given by I = PRT, where I = interest earned, P = principal deposited to the account, R = interest rate in decimal form, and T = time in years that the principal remains in the account.What is the formula for T?

Use the new version of the formula you found in #5 to find T, the time in years that a principal deposit of $12000 stayed in an account if it earned $8550 in interest at a rate of 4.75% simple interest.

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