March 29, 2017

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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%.

  • math - ,

    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

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