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OpenStudy (anonymous):
and i replace the variables with the number so i got
6954=P+P(5.3/100)(3)
OpenStudy (anonymous):
So then i got 6954=P+(0.053)
I subtracted 0.053 on both sides and got
OpenStudy (anonymous):
Sorry it was 0.159
OpenStudy (anonymous):
and i got a huge number. which i know its wrong
OpenStudy (anonymous):
what did i do wrong
?
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OpenStudy (mew55):
where the 6954 come from?
OpenStudy (anonymous):
its a problem solving.
Its says. Suppose that an account earns 5.3% interest and after 3 years the balance is 6954$.Find the principle that was invested.Use the formula B=P+Prt,which is used to calculate the balance in an account if simple interest is added to a principle P at an interest rate of r after t years.