Given that i=$700,p=$3,500 and t=4yrs. Find the rate

Answer 1

You must be talking about the simple interest formua
I = PRT

700 = 3500(r)(4)
r = 700/(14000)
= ...

Answer 2

I = PRT
700 = 3,500 * R * 4
700 = 14,000R
700/14,000 = R
0.05 = 5% = Rate