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 of 15%
a) A=P(1+rt)
b) A=8300*(1+3(.15))
see
http://www.jiskha.com/display.cgi?id=1236188117
for exactly the same question.
Just a question? Can't two people have the same question? There is hundreds of people on here... Just asking...
yes, of course that can happen.
But instead of typing the solution all over again, doesn't it make sense to direct a student to the other post, when that post contains the solution?
a) To rewrite the formula by factoring out the greatest common factor on the right-hand side, we can take the common factor "P" out of the terms "P" and "Prt".
The formula A = P + Prt can be factored as:
A = P(1 + rt)
b) To find A when $8300 is invested for 3 years at a simple interest rate of 15%, we can substitute the given values into the formula A = P(1 + rt).
Where:
P = $8300
r = 15% (which can be written as 0.15 as a decimal)
t = 3 years
Now, we can substitute these values into the formula and solve for A:
A = 8300(1 + 0.15 * 3)
A = 8300(1 + 0.45)
A = 8300(1.45)
A ≈ $12,035
Therefore, the amount after 3 years with an investment of $8300 at a simple interest rate of 15% would be approximately $12,035.