Question

Solve I = Prt for P when I = 5,480, r = .04, and t = 7.

Answer 1

Answer: P = 19,571.42857142857

Step-by-step explanation:

Plug in the variables.

5480 = x(.04)(7)

.04*7=.28

5480=.28x

.28x/.28=x

5480/.28=19,571.42857142857

19,571.42857142857(.04)(7)=5480

P = 19,571.42857142857

Answer 2

Answer:

19571.43

Step-by-step explanation:

We are asked to solve for P using formula $I=Prt$, when $I=5480; r=0.04\text{ and }t=7$.

Upon substituting our given values in simple interest formula, we will get:

$5480=P*0.04*7$

$5480=P*0.28$

Switch sides:

$P*0.28=5480$

Now, we will divide both sides of our given equation by 0.28 as:

$\frac{P*0.28}{0.28}=\frac{5480}{0.28}$

$P=19571.42857$

$P\approx 19571.43$

Therefore, the principal amount (P) is approximately 19571.43.