Elementary and Intermediate Algebra: Concepts & Applications (6th Edition)

Published by Pearson
ISBN 10: 0-32184-874-8
ISBN 13: 978-0-32184-874-1

Chapter 7 - Functions and Graphs - 7.5 Formulas, Applications, and Variation - 7.5 Exercise Set - Page 486: 33



Work Step by Step

Use the rule $\frac{a}{b}=\frac{c}{d}\longrightarrow ad=bc$ to obtain: $$P(1+r)=A \\P(1)+P(r)=A \\P+Pr=A$$ Subtract $P$ from both sides to obtain: $$P+Pr-P=A-P \\Pr=A-P$$ Divide $P$ to both sides: $$\frac{Pr}{P}=\frac{A-P}{P} \\\color{blue}{r=\frac{A-P}{P}}$$
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