SOLUTION: I am horrible at word problems. And I am not understanding polynomials or trinomials very well. could someone help me with this problem? The amount of an investment of P dollars

Question 129151: I am horrible at word problems. And I am not understanding polynomials or trinomials very well. could someone help me with this problem?
The amount of an investment of P dollars for t years at simple interest rate r is given by A = P + Prt. 1.) Rewrite this formula by factoring out the greatest common factor on the right-hand side. 2.) Find A if $8300 is invested for 3 years at a simple interest rate of 15%
thanks so much for the help
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
A=P(1+R)^T IS THE FORMULA FOR ANNUAL COMPOUNDING INTEREST.
A=8300(1+.15)^3
A=8300(1.15)^3
A=8300*1.52
A=$12,623.26 IS THE VALUE OF THIS INVESTMENT AFTER 3 YEARS @ 15% COMPOUNDED INTEREST.
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