I need help with the math problem below. Is the operation I used correct? Is my answer correct? What is the problem asking? For example, in I = PRT, I know I'm being asked to find the interest. But in the problem below, what does "A" stand for?
A = S / (1 + RT)
with S = 12,600, R = .12, and T = 5/12)
First, I changed 5/12 into a decimal (2.4). Then I multiplied .12 x 2.4 = 0.288. Then I added 1 + 0.288 = 1.288. Then I divided 12600 by 1.288 = 9782.61. So "A" = 9782.61
A = S / (1 + RT)
with S = 12,600, R = .12, and T = 5/12)
First, I changed 5/12 into a decimal (2.4). Then I multiplied .12 x 2.4 = 0.288. Then I added 1 + 0.288 = 1.288. Then I divided 12600 by 1.288 = 9782.61. So "A" = 9782.61