When using the simple interest formula, time, \( t \), is expressed in the same period as the

In the simple interest formula, time, \( t \), is expressed in the same period as the interest rate. The simple interest formula is given by: \[ I = P \cdot r \cdot t \] where: - \( I \) is the interest earned, - \( P \) is the principal amount (the initial amount of money), - \( r \) is the annual interest rate (expressed as a decimal), - \( t \) is the time the money is invested or borrowed for, in years. For example, if the interest rate is given annually, then \( t \) should be expressed in years. If the interest rate is monthly, then \( t \) should be expressed in months. It's important to ensure that the units for \( t \) and \( r \) match to get accurate results.