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Simplifying 3074 = p(1 + 0.06) Combine like terms: 1 + 0.06 = 1.06 3074 = p(1.06) Reorder the terms for easier multiplication: 3074 = 1.06p Solving 3074 = 1.06p Solving for variable 'p'. Move all terms containing p to the left, all other terms to the right. Add '-1.06p' to each side of the equation. 3074 + -1.06p = 1.06p + -1.06p Combine like terms: 1.06p + -1.06p = 0.00 3074 + -1.06p = 0.00 Add '-3074' to each side of the equation. 3074 + -3074 + -1.06p = 0.00 + -3074 Combine like terms: 3074 + -3074 = 0 0 + -1.06p = 0.00 + -3074 -1.06p = 0.00 + -3074 Combine like terms: 0.00 + -3074 = -3074 -1.06p = -3074 Divide each side by '-1.06'. p = 2900 Simplifying p = 2900
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