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Simplifying 2440 = P + (P)(0.03)(20) Reorder the terms for easier multiplication: 2440 = P + 0.03 * 20P Multiply 0.03 * 20 2440 = P + 0.6P Combine like terms: P + 0.6P = 1.6P 2440 = 1.6P Solving 2440 = 1.6P Solving for variable 'P'. Move all terms containing P to the left, all other terms to the right. Add '-1.6P' to each side of the equation. 2440 + -1.6P = 1.6P + -1.6P Combine like terms: 1.6P + -1.6P = 0.0 2440 + -1.6P = 0.0 Add '-2440' to each side of the equation. 2440 + -2440 + -1.6P = 0.0 + -2440 Combine like terms: 2440 + -2440 = 0 0 + -1.6P = 0.0 + -2440 -1.6P = 0.0 + -2440 Combine like terms: 0.0 + -2440 = -2440 -1.6P = -2440 Divide each side by '-1.6'. P = 1525 Simplifying P = 1525
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