SOLUTION: The amount of an investment of P dollars for t years at a simple interest rate r is given by A= P+ Prt. a) Rewrite this formula by factoring out the greatest common factor on t

Question 97950: The amount of an investment of P dollars for t years at a 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 stanbon(75887) (Show Source): You can put this solution on YOUR website!
The amount of an investment of P dollars for t years at a 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.
A = P(1+rt)
b) Find A if $8300 is invested for 3 years at a simple interest rate of 15%.
A = 8300(1+0.15*3)= $12,035
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Cheers,
Stan H.
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