SOLUTION: 96.) 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 the formula by factoring out the
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Question 163325This question is from textbook Elementary and Intermediate
: 96.) 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 the 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%.
This question is from textbook Elementary and Intermediate
Answer by elima(1433) (Show Source): You can put this solution on YOUR website!
A = P + Prt
a) A=P(1+rt)
b)A = 8300(1+.15(3))
A=8300+8300(.15)(3)
A=8300 + 3735
A=12035
:)
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