Question

The formula, number of payments = total of installment payments/installment payments is used to find the number of payments for a loan. The formula can be written in symbols as N= T/P. Solve the formula for T. T =?

Answer 1

From the question;

We are given the equation

$\text{Number of payments = }\frac{Total\text{ of instalment payments}}{\text{Instalment payment}}$

Which is written in symbol form as

$N=\frac{T}{P}$

We are to solve for T

This means we are to make T the subject of the formula

Therefore, we have

$\begin{gathered} N=\frac{T}{P} \\ \text{Cross multiply} \\ N\times P=T \\ T=NP \end{gathered}$

Therefore, T = NP