The formula P= is used to determine what amount of principal P should be invested for one year at simple interest rate s in order to have D dollars after a year. 1+s Solve the formula for s.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
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Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 60SE: The formula for the amount A in an investmentaccount with a nominal interest rate r at any timet is...
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D
The formula P =
1+s
is used to determine what amount of principalP should be invested for one year at simple interest rate s in order to have D dollars after a year.
Solve the formula for s.
Transcribed Image Text:D The formula P = 1+s is used to determine what amount of principalP should be invested for one year at simple interest rate s in order to have D dollars after a year. Solve the formula for s.
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