solve for p in the formula below. what does the resulting formula describe?\na = \\frac{p(1 + r)^t…
solve for p in the formula below. what does the resulting formula describe?\na = \\frac{p(1 + r)^t - 1}{r}\np =
Answer
Explanation:
Step1: Multiply both sides by r
$A\times r = P[(1 + r)^t-1]$
Step2: Divide both sides by $(1 + r)^t-1$
$P=\frac{Ar}{(1 + r)^t - 1}$
Answer:
$P=\frac{Ar}{(1 + r)^t - 1}$