Respuesta :

Simple interest formula:

I = Prt

where I is the interest, P is the principal, r is the interest rate (as a decimal), and t is time

Substituting with P = $300, r = 0.07, and i = $105, we get

[tex]\begin{gathered} 105=300\cdot0.07\cdot t \\ \frac{105}{300\cdot0.07}=t \\ 5=t \end{gathered}[/tex]

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