SOLUTION: Amount of Investment The amount of investment of P dollars for t years at simple interest rate r is given by A=P + PRT Rewrite the formula by factoring out the greatest commo

Algebra ->  Polynomials-and-rational-expressions -> SOLUTION: Amount of Investment The amount of investment of P dollars for t years at simple interest rate r is given by A=P + PRT Rewrite the formula by factoring out the greatest commo      Log On


   

Question 363436: Amount of Investment
The amount of investment of P dollars for t years at simple interest rate r is given by
A=P + PRT
Rewrite the formula by factoring out the greatest common factor on the right-hand side.
Find A if $8300 is invested for 3 years at a simple interest rate of 15%.
Answer by edjones(8007) About Me  (Show Source):
You can put this solution on YOUR website!
A=P+PRT
A=P(1+RT)
8300(1+.15*3)
=8300*1.45
=$12,035.
.
Ed