SOLUTION: The formula B/1+rt=P is used to complete the amount, P, that must be deposited at an annual interest rate,r, to result in a balance B after t years. Solve the formula for r.

Question 888513: The formula B/1+rt=P is used to complete the amount, P, that must be deposited at an annual interest rate,r, to result in a balance B after t years. Solve the formula for r.
Answer by harpazo(655) (Show Source): You can put this solution on YOUR website!
B/1 + rt = P
I will assume that the formula is B/(1 + rt) = p.
Now it makes sense.
Multiply both sides by the denominator of the fraction.
After doing that, we get
B = p(1 + rt)
Distribute p on the right side to remove parentheses.
B = p + prt
Subtract p from B.
B - p = prt
Divide bot sides by pt.
(B - p)/pt = r
Done!
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