SOLUTION: Solve A = P+Prt for P if A = 1032, r=.06, and t=12 Thanks!!!

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: Solve A = P+Prt for P if A = 1032, r=.06, and t=12 Thanks!!!      Log On


   

Question 74680This question is from textbook Elementary algebra
: Solve A = P+Prt for P if A = 1032, r=.06, and t=12
Thanks!!! This question is from textbook Elementary algebra

Answer by jim_thompson5910(35256) About Me  (Show Source):
You can put this solution on YOUR website!
Just plug in the values you're given and evaluate:
A+=+P%2BPrtPlug in A = 1032, r=.06, and t=12
1032+=+P%2BP%28.06%29%2812%29
1032+=+P%2B0.72P
1032+=+1.72PAdd like terms
1032%2F1.72+=+cross%281.72%2F1.72%29PDivide both sides by 1.72
P=600 So you invested $600 for 12 months at 6% interest to have $1032 in your savings


Check:
1032+=+P%2BPrtPlug in P=600, r=.06 and t=12
1032+=+600%2B600%28.06%29%2812%29
1032+=+600%2B432
1032+=+1032works