Use the formula for simple interest, $\mathrm{I}=\mathrm{Prt}$, to find the indicated quantity.
\[
I=\$ 125 ; P=\$ 5000 ; r=5 \% ; t=\text { ? }
\]
$t=\square$ year(s)
(Simplify your answer. Type an integer or a decimal.)
Answer
Final Answer: The time, \(t\), is \(\boxed{0.5}\) year(s).
Step 1 ：Given the formula for simple interest, \(I = Prt\), where \(I\) is the interest, \(P\) is the principal amount, \(r\) is the rate of interest, and \(t\) is the time.
Step 2 ：We are given the values of \(I\), \(P\), and \(r\), and we are asked to find the value of \(t\).
Step 3 ：We can rearrange the formula to solve for \(t\): \(t = \frac{I}{Pr}\)
Step 4 ：Substitute the given values into this formula to find the value of \(t\): \(I = 125\), \(P = 5000\), \(r = 0.05\)
Step 5 ：Calculate \(t = \frac{125}{5000 \times 0.05} = 0.5\)
Step 6 ：Final Answer: The time, \(t\), is \(\boxed{0.5}\) year(s).
