Match each variable with its meaning in the following simple terest formulas. = Prt = P +Prt: = P(1+rt) ✓ [Choose ] value annual simple interest rate (expressed as a decimal) time in years profit interest amount (future value) at the end of t years principal (present value) priorparpproveme annual simple interes time in years
Match each variable with its meaning in the following simple terest formulas. = Prt = P +Prt: = P(1+rt) ✓ [Choose ] value annual simple interest rate (expressed as a decimal) time in years profit interest amount (future value) at the end of t years principal (present value) priorparpproveme annual simple interes time in years
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.8: Transforming Exponential Expressions
Problem 18PFA
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![### Understanding Simple Interest Formulas
#### Match each variable with its meaning in the following simple interest formulas.
#### Formulas:
\[ I = Prt \]
\[ A = P + Prt = P(1 + rt) \]
#### Matching Variables:
Below are the variables used in the formulas and their meanings that you need to match:
- **I**
- **A**
- **P**
- **r**
- **t**
#### Definitions to Choose From:
1. Value
2. Annual simple interest rate (expressed as a decimal)
3. Time in years
4. Profit
5. Interest
6. Amount (future value) at the end of t years
7. Principal (present value)
#### Current Matches:
- For variable **I**: [ Choose ]
- For variable **A**: [ Dropdown available ]
- For variable **P**: [ Principal (present value) ]
- For variable **r**: [ Annual simple interest rate (expressed as a decimal) ]
- For variable **t**: [ Time in years ]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8df1a74e-b29a-4337-9f07-a3244c840179%2F745a5934-f714-4df7-ad87-b9cd9f05dceb%2F99j2yd_processed.png&w=3840&q=75)
Transcribed Image Text:### Understanding Simple Interest Formulas
#### Match each variable with its meaning in the following simple interest formulas.
#### Formulas:
\[ I = Prt \]
\[ A = P + Prt = P(1 + rt) \]
#### Matching Variables:
Below are the variables used in the formulas and their meanings that you need to match:
- **I**
- **A**
- **P**
- **r**
- **t**
#### Definitions to Choose From:
1. Value
2. Annual simple interest rate (expressed as a decimal)
3. Time in years
4. Profit
5. Interest
6. Amount (future value) at the end of t years
7. Principal (present value)
#### Current Matches:
- For variable **I**: [ Choose ]
- For variable **A**: [ Dropdown available ]
- For variable **P**: [ Principal (present value) ]
- For variable **r**: [ Annual simple interest rate (expressed as a decimal) ]
- For variable **t**: [ Time in years ]
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