P=N/1+i is used to determine what amount of principle P should be invested for one year at simple interest rate i in order to have N dollars after a year. Solve the formula for i.
your formula should say:
P = N/(1+i)
then ...
P + Pi = N
Pi = N - P
i = (N - P)/P
To solve the formula P=N/1+i for i, we need to isolate the variable i on one side of the equation.
Step 1: Begin by multiplying both sides of the equation by (1+i) to eliminate the denominator on the left side:
(1+i) * P = N
Step 2: Distribute the multiplication on the left side:
P + i * P = N
Step 3: Rearrange the equation by moving i * P to the other side:
i * P = N - P
Step 4: Divide both sides of the equation by P to isolate i:
i = (N - P) / P
Therefore, the formula for i is i = (N - P) / P.