Tori was asked to provide an example of the commutative property of addition. Which of the subsequent choices would be correct?
Using the simple interest formula Interest = principal × rate × time, or I = prt, substitute I = $948, p = $7,900, and t= 3 (36 months is equal to 3 years); 948 = (7,900)(r)(3). Multiply 7,900 and 3 on the right side to get a result of 948 = 23,700r. Divide both sides by 23,700 to get r = .04, which is a decimal equal to 4%.