SOLUTION: The amount of an investment of P dollars for t years at simple interest rate r is given by A = P + Prt. a) Rewrite this formula by factoring out the greatest common factor on th

Algebra ->  Polynomials-and-rational-expressions -> SOLUTION: The amount of an investment of P dollars for t years at simple interest rate r is given by A = P + Prt. a) Rewrite this formula by factoring out the greatest common factor on th      Log On


   

Question 76322: The amount of an investment of P dollars for t years at simple interest rate r is given by A = P + Prt.
a) Rewrite this formula by factoring out the greatest common factor on the right hand side.
b) Find A if $8300 is invested for 3 years at a simple interest rate of 15%.
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
The amount of an investment of P dollars for t years at simple interest rate r is given by A = P + Prt.
a) Rewrite this formula by factoring out the greatest common factor on the right hand side.
A = P(1+rt)
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b) Find A if $8300 is invested for 3 years at a simple interest rate of 15%.
A = 8300(1+(0.15)*3)
A = 8300(1.45)
A = $12,035
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Cheers,
Stan H.