1. **State the problem:** Mike borrows 7800 at a simple interest rate of 4% per annum. The total amount accumulated after $t$ years is 8892. We need to find $t$. 2. **Formula used:** The formula for simple interest is: $$ A = P + I = P + P \times r \times t = P(1 + rt) $$ where: - $A$ is the total amount accumulated - $P$ is the principal amount (initial loan) - $r$ is the annual interest rate (in decimal) - $t$ is the time in years 3. **Substitute known values:** $$ 8892 = 7800(1 + 0.04t) $$ 4. **Solve for $t$:** Divide both sides by 7800: $$ \frac{8892}{7800} = 1 + 0.04t $$ Calculate the left side: $$ 1.14 = 1 + 0.04t $$ Subtract 1 from both sides: $$ 0.14 = 0.04t $$ Divide both sides by 0.04: $$ t = \frac{0.14}{0.04} = 3.5 $$ 5. **Interpretation:** The time $t$ is 3.5 years. **Final answer:** $t = 3.5$ years.