SOLUTION: A=P+Prt; A=$2440, r=0.03, t=20 years What does P=?

Algebra ->  Linear-equations -> SOLUTION: A=P+Prt; A=$2440, r=0.03, t=20 years What does P=?      Log On


   

Question 748070: A=P+Prt; A=$2440, r=0.03, t=20 years
What does P=?
Answer by Cromlix(4381) About Me  (Show Source):
You can put this solution on YOUR website!
A=P+Prt
A = P(1 + rt)
2440 = P (1 + 0.03 *20)
2440 + P (1.6)
P = 2440/1.6
P = 1525
Proof:
A = 1525+ (1525*0.03*20)
A = 2440