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

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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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 ]
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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