Homework Help: math

Posted by naine on Sunday, September 5, 2010 at 2:36pm.

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 - Reiny, Sunday, September 5, 2010 at 3:04pm
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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