document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=78607>Question 78607</A>This question is from textbook <A HREF=http://www.amazon.com/exec/obidos/ASIN/0073268623/algebrahomeworkh>Elementary and Intermediate Algebra</A><BR>\n" );
document.write( ": <I><SPAN STYLE=\"word-break: break-all;\"> The amount of an investment of P dollars for t years at simple interest rate r is given by A=P+Prt.  \r<BR>\n" );
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document.write( "Rewrite the formula by factoring out the greatest common factor on the right hand side.\r<BR>\n" );
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document.write( "Find A if $8300 is invested for 3 years at a simple interest rate of 15% </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #56370 by </B><A HREF=/tutors/aboutme.mpl?userid=bucky><B>bucky(2189)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=bucky><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=56370\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A = P + Prt<BR>\n" );
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document.write( "The greatest common factor on the right side is P.  Factoring it out results in the equation<BR>\n" );
document.write( "becoming:<BR>\n" );
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document.write( "A = P(1 + rt)<BR>\n" );
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document.write( "Although it doesn't directly say so, the problem implies that the 15% simple interest<BR>\n" );
document.write( "rate is an annual rate.  This means that r = 15% or equivalently, r = 0.15.  And t is the<BR>\n" );
document.write( "time in years. The problem tells you that t = 3.  And finally the problem tells you that<BR>\n" );
document.write( "the Principal (or amount invested) is $8300. Substituting these values into the equation<BR>\n" );
document.write( "results in:<BR>\n" );
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document.write( "A = 8300(1 + (.15*3))<BR>\n" );
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document.write( "Multiplying the rate times the time simplifies this equation to:<BR>\n" );
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document.write( "A = 8300(1 + 0.45)<BR>\n" );
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document.write( "and adding the two terms in the parentheses make the equation become:<BR>\n" );
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document.write( "A = 8300(1.45)<BR>\n" );
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document.write( "Finally, doing the multiplication on the right side results in:<BR>\n" );
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document.write( "A = 12035<BR>\n" );
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document.write( "So investing $8300 for 3 years at a simple interest rate of 15% per year means that at<BR>\n" );
document.write( "the end of the 3 years you will now have $12,035.<BR>\n" );
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document.write( "Making your money work for you.<BR>\n" );
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document.write( "Hope this helps you to understand this type of problem. </SPAN>\n" );
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