Question
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) 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%.
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%.
Answers
Reiny
I am sure you meant to type
Amount = P + Prt
which becomes
a) Amount = P(1 + rt)
b) Amount = 8300)1+.15(3)) = 12 035
Amount = P + Prt
which becomes
a) Amount = P(1 + rt)
b) Amount = 8300)1+.15(3)) = 12 035