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Chapter 1: Problem 41

Solve each formula for the specified variable. Do you recognize the formula? If so, what does it describe? \(I=P r t\) for \(P\)

Short Answer

Expert verified
The given formula is used to calculate simple interest, and the rearranged formula for \(P\) is \(P=\frac{I}{r t}\)

Step by step solution

01

- Identify the equation

The given formula is \(I=P r t\) which is used to calculate simple interest. We need to solve this equation for \(P\). This involves algebraically manipulating the equation to express \(P\) on one side of the equation.
02

- Isolating the variable

We want to isolate \(P\) on one side of the equality. Since \(P\) is currently being multiplied by \(r\) and \(t\), we do the opposite operation - division - to cancel out \(r\) and \(t\) on the right side of the equation. Divide both sides of the equation by \(r t\). Doing this, the resultant equation will be \(P=\frac{I}{r t}\).
03

- Final answer

After isolating \(P\) we get our final formula as \(P=\frac{I}{r t}\), which gives us the principal amount.

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