document.write( "Question 1155016: What’s the correct formula to use for this
\n" ); document.write( "Amanda account earned $600 in interest. If the interest rate(in decimal form) is 0.03
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Algebra.Com's Answer #777564 by josmiceli(19441)\"\" \"About 
You can put this solution on YOUR website!
If that's all the information, then it is
\n" ); document.write( "a simple interest problem. For simple
\n" ); document.write( "interest:
\n" ); document.write( "\"+I+=+P%2Ar%2At+\"
\n" ); document.write( "where:
\n" ); document.write( "\"+I+\" = interest earned
\n" ); document.write( "\"+P+\" = amount invested
\n" ); document.write( "\"+r+\" = interest rate
\n" ); document.write( "\"+t+\" time in years of investment
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\n" ); document.write( "This problem sounds like it is for 1 year, so
\n" ); document.write( "\"+I+=+P%2Ar%2At+\"
\n" ); document.write( "\"+600+=+P%2A.03%2A1+\"
\n" ); document.write( "\"+P+=+600+%2F+.03+\"
\n" ); document.write( "\"+P+=+20000+\"
\n" ); document.write( "$20,000 was her amount invested
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