SOLUTION: How do you figure out this equation step by step. I cant figure it out....500=P+P(0.06)(1/2).. Thank you id appreciate it this math problem has been giving me a head ache..

Question 272682: How do you figure out this equation step by step. I cant figure it out....500=P+P(0.06)(1/2).. Thank you id appreciate it this math problem has been giving me a head ache..
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
How do you figure out this equation step by step. I cant figure it out....500=P+P(0.06)(1/2).. Thank you id appreciate it this math problem has been giving me a head ache..
p + p(0.06)(1/2)=500
p+ p( 6/100)*(1/2)=500
p(1+6/200)=500
p(200+6 )/ 200 = 500
p(206)= 500/200
p = 5/2 * 1/206
p= 5/412
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