SOLUTION: I need help with the following word problem.
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.
R
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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.
R
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Question 49291This question is from textbook
: I need help with the following word problem.
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.
Rewrite formula by factoring out the greatest common factor on the right-hand side and find A if $8300 is invested for 3 years at a simple interest rate of 15%.
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Amount of an investment.
The amount of an investment of P dollars for t years at simple interest rate r is given by A=P+Prt.
A=P(1+RT)............P=8300.$........T=3 YRS ..R=15%=15/100=0.15
A=8300(1+0.15*3)=8300*1.45=12035
Rewrite formula by factoring out the greatest common factor on the right-hand side and find A if $8300 is invested for 3 years at a simple interest rate of 15%.
