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Amount of an Investment

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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%.

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Solution Summary

It explains how to calculate the value of the investment with simple interest rate.

Solution Preview

a) the greatest common factor (GCF) is p in the given equation, so we extract out p:
A = p ...

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