Question

note: please make sure to properly format your answers. all dollar figures in the answers need to include the dollar sign and any amount over 1,000 should include the comma ($2,354.67). all percentage values in the answers need to include a percentage sign (%). for all items without specific rounding instructions, round your answers two decimal places, show both decimal places (5.06). zoe creates a spreadsheet to make simple - interest calculations. the user inputs values for the principal, rate, and time in years in row 2. write each formula. remember to include the = symbol in the formula. 1 interest principal rate time in years time in months 2 3 4 5 a. for a2 to compute the interest. b. for b2 to compute the principal. c. for c2 to compute the interest rate. d. for d2 to compute time in years, given the interest, rate, and the principal. e. for e2 to compute the time in months, given the time in years.

Explanation:

Step1: Recall simple - interest formula

The simple - interest formula is $I = P\times r\times t$, where $I$ is the interest, $P$ is the principal, $r$ is the interest rate, and $t$ is the time in years.

Step2: Find formula for A2 (interest)

Using the simple - interest formula, if principal is in B2, rate is in C2 and time in years is in D2, the formula for A2 is =B2C2D2.

Step3: Find formula for B2 (principal)

From $I = P\times r\times t$, we can solve for $P$: $P=\frac{I}{r\times t}$. So if interest is in A2, rate is in C2 and time in years is in D2, the formula for B2 is =A2/(C2*D2).

Step4: Find formula for C2 (interest rate)

From $I = P\times r\times t$, we can solve for $r$: $r = \frac{I}{P\times t}$. So if interest is in A2, principal is in B2 and time in years is in D2, the formula for C2 is =A2/(B2*D2).

Step5: Find formula for D2 (time in years)

From $I = P\times r\times t$, we can solve for $t$: $t=\frac{I}{P\times r}$. So if interest is in A2, principal is in B2 and rate is in C2, the formula for D2 is =A2/(B2*C2).

Step6: Find formula for E2 (time in months)

Since there are 12 months in a year, if time in years is in D2, the formula for E2 is =D2*12.

Answer:

a. =B2C2D2
b. =A2/(C2*D2)
c. =A2/(B2*D2)
d. =A2/(B2*C2)
e. =D2*12