use the formula to solve for the given variable. solve i = prt for p, given that r = 6 1/2%, t = 4 years…

Explanation:

Step1: Convert the percentage to decimal

$r = 6\frac{1}{2}%=\frac{13}{2}\div100 = 0.065$

Step2: Rearrange the formula $i = Prt$ to solve for $P$

$P=\frac{i}{rt}$

Step3: Substitute the given values

$P=\frac{338}{0.065\times4}$ $P=\frac{338}{0.26}$ $P = 1300$

Step4: For the second - part, factor out $P$ in $A=P + Prt$

$A = P(1+rt)$

Step5: Rearrange to solve for $P$

$P=\frac{A}{1 + rt}$

Step6: Substitute the given values

$r=0.06$, $t = 15$, $A = 380$ $P=\frac{380}{1+0.06\times15}$ $P=\frac{380}{1 + 0.9}$ $P=\frac{380}{1.9}$ $P = 200$

Answer:

$P = 1300$ (for the first problem) $P = 200$ (for the second problem)