document.write( "Question 1057796: Your electric bill is $127. You are charged 15% simple interest for late payments. How much do you owe if you pay the bill 4 months past the due date?
\n" ); document.write( "Part 1 of 2\r
\n" ); document.write( "\n" ); document.write( "To find the amount due plus the interest, use the future value formula
\n" ); document.write( "A = P(1 + rt)
\n" ); document.write( "where A is the amount after interest, P is the principal, r is the interest rate, and t is the time period.\r
\n" ); document.write( "\n" ); document.write( "Substitute P = 127 and r = 0.15 into the equation.
\n" ); document.write( "A = P(1 + rt)
\n" ); document.write( " \n" ); document.write( "

Algebra.Com's Answer #672820 by solve_for_x(190) $\"\"$ $\"About$

You can put this solution on YOUR website!
The time, t, must be in units of years, so 4 months represents t = 4/12 = 1/3 year.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "Substituting P = 127, r = 0.15, and t = 1/3 into the given equation gives:\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "A = 127 * (1 + 0.15(1/3))\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "A = 127 * (1 + 0.05)\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "A = 127 * 1.05\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "A = 133.35 \n" ); document.write( "

\n" );