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Chapter 2: Q. 606 (page 296)

In the following exercises, solve.

Use the formulaI = Prt to solve for the principal, P for 鈸� I = $2, 501, r = 4.1%, t = 5 years 鈸� in general

Short Answer

Expert verified

a.Thesimplifiedvalueisp=12200

b.Thegeneralfromisp=Irt

Step by step solution

01

Step 1. Given information

The given equation is I = Prt

We have to use the formulaI = Prt to solve for the principal, Pfor 鈸� I = $2, 501, r= 4.1%, t = 5 years 鈸� in general

02

Step 2. Explanation

Solve;I=Prt鈬�2501=P(0.041)(5)(SubsitutethevalueofI,r,t)鈬�2501=P(0.205)(Simplify)鈬�25010.205=P(0.205)0.205(Dividebothsideby0.205)鈬�12200=p(Simplify)Thesimplifiedvalueisp=12200

03

Part b. Step 3. Explanation

Ingeneral鈬�I=Prt鈬�Irt=P(rt)rt(Dvidebothsidebyrttoisolatep)鈬�Irt=p(Simplify)Thegeneralfromisp=Irt

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