Question

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.

Answer 1

@help123please.

Answer 2

@hba

Answer 3

I seriously need help

Answer 4

@shamil98

Answer 5

@mathstudent55

Answer 6

Would you not just plug in the given values? try doing the equation.

Answer 7

okay 6954=P+P(5.3/100)(3)

Answer 8

Am i correct so far?

Answer 9

\(\bf Balance = Principal + Principal \times rate \times time\\
B = P + Prt\\
r = \textit{rate in decimals, 5.3\%} = \frac{5.3}{100}=0.053\\
t = \textit{time in years, in this case } \quad 3\\
B = \textit{the balance in the account, well, today's balance is}\quad \$6,954\\ \quad \\
B = P + Prt\implies 6954= p + p \times 0.053 \times 3\)

solve for "p"

Answer 10

6954 = P + (5.3(3)p)

Answer 11

yeah solve for p, my input was incorrect , 5.3% interest in decimal is actually 0.53

Answer 12

i got 43735.84....

Answer 13

is this right

Answer 14

0.053* my bad ._.

Answer 15

i still got this answer
i know im wrong but i dont know what i did wrong

Answer 16

hba help

Answer 17

6954=p+p×0.053×3
6954 = 2p x 0.159
6954 = 0.318p
p = 21867.9245283