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Simplifying 3097.50 = 3000(1 + 0.5r) 3097.50 = (1 * 3000 + 0.5r * 3000) 3097.50 = (3000 + 1500r) Solving 3097.50 = 3000 + 1500r Solving for variable 'r'. Move all terms containing r to the left, all other terms to the right. Add '-1500r' to each side of the equation. 3097.50 + -1500r = 3000 + 1500r + -1500r Combine like terms: 1500r + -1500r = 0 3097.50 + -1500r = 3000 + 0 3097.50 + -1500r = 3000 Add '-3097.50' to each side of the equation. 3097.50 + -3097.50 + -1500r = 3000 + -3097.50 Combine like terms: 3097.50 + -3097.50 = 0.00 0.00 + -1500r = 3000 + -3097.50 -1500r = 3000 + -3097.50 Combine like terms: 3000 + -3097.50 = -97.5 -1500r = -97.5 Divide each side by '-1500'. r = 0.065 Simplifying r = 0.065
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