find the missing value. round your answer to the nearest tenth of a percent. principal $900 rate __% time 7…

Explanation:

Step1: Recall simple - interest formula

The simple - interest formula is $I = Prt$, where $I$ is the simple interest, $P$ is the principal, $r$ is the annual interest rate (in decimal form), and $t$ is the time in years. We need to solve for $r$.

Step2: Rearrange the formula for $r$

Starting with $I = Prt$, we can isolate $r$ by dividing both sides of the equation by $Pt$. So, $r=\frac{I}{Pt}$.

Step3: Substitute the given values

We are given that $P = 900$, $t = 7$ years, and $I = 334$. Substituting these values into the formula, we get $r=\frac{334}{900\times7}$. First, calculate the denominator: $900\times7 = 6300$. Then, $r=\frac{334}{6300}\approx0.053$.

Step4: Convert $r$ to a percentage

To convert $r$ from a decimal to a percentage, we multiply by 100. So, $r = 0.053\times100 = 5.3%$.

Answer:

$5.3%$