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%.© BrainMass Inc. brainmass.com June 4, 2020, 1:42 am ad1c9bdddf
a) the greatest common factor (GCF) is p in the given equation, so we extract out p:
A = p ...
It explains how to calculate the value of the investment with simple interest rate.