Recall using the simple interest formula, A=P+Prt, from Exercise 3.4. In the formula:

A = the full amount paid for the loan
P = the principal or the amount borrowed
r = the interest rate as a decimal
t = time in years

A car dealership wants to use the formula to find the rate needed for certain values of the other variables. Solve the formula for r. X ÷ π a/b aᵇ aᵦ()