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 g

Question 146938: 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 Monarch(4) (Show Source): You can put this solution on YOUR website!
a) A= P(1+rt)
b) A= 8300 (1+.15*3)
A = 8300 ( 1 + .45)
A = 8300 * 1.45
A = $12035
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