SOLUTION: Amount of an investment. The amount of an investment
of P dollars for t years at simple interest rate r is given by
A = P + Prt.
a) Rewrite this formula by factoring out the gre
Algebra.Com
Question 168340: Amount of an investment. The amount of an investment
of P dollars for t years at simple interest rate r is given by
A = P + Prt.
a) Rewrite this formula by factoring out the greatest
common factor on the right-hand side.
b) Find A if $8300 is invested for 3 years at a simple
interest rate of 15%.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A = P + Prt.
a) Rewrite this formula by factoring out the greatest
common factor on the right-hand side.
A = P(1+rt)
----------------
b) Find A if $8300 is invested for 3 years at a simple
interest rate of 15%.
A = 8300(1 + 0.15*3)
A = $12035.00
================
Cheers,
Stan H.
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