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 gre

Question 200371: 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 nerdybill(7384) (Show Source): You can put this solution on YOUR website!
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.
A = P + Prt
Factoring out a P:
A = P(1 + rt)
.
b) Find A if $8300 is invested for 3 years at a simple
interest rate of 15%.
A = P(1 + rt)
A = 8300(1 + .15(3))
A = 8300(1 + .45)
A = 8300(1.45)
A = $12035

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