3 1 Using the simple interest formula 1 = Prt, state the rate and time required for the formula in decimal format, given that the rate is 6-% and the time is 2- 4 The interest rate, r, is 0.0675. (Round to six decimal places as needed.) The time, t, is 2.25 years. (Round to six decimal places as needed.) years.

Using the sample interest formula i= Prt, state the rate and fime requited for the formula in decimal format, given that the rate is 643.s and the fime is 241 yeatis. The interest rale, f2 is 0.0675 (Round to six decimal pilices as moeded.) The time, t, is 2.25 yeare (Round to six decirnal places as neodind)