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Simplifying 10402.50 = 9500[1 + r(1)] Reorder the terms for easier multiplication: 10402.50 = 9500[1 + 1r] 10402.50 = [1 * 9500 + 1r * 9500] 10402.50 = [9500 + 9500r] Solving 10402.50 = 9500 + 9500r Solving for variable 'r'. Move all terms containing r to the left, all other terms to the right. Add '-9500r' to each side of the equation. 10402.50 + -9500r = 9500 + 9500r + -9500r Combine like terms: 9500r + -9500r = 0 10402.50 + -9500r = 9500 + 0 10402.50 + -9500r = 9500 Add '-10402.50' to each side of the equation. 10402.50 + -10402.50 + -9500r = 9500 + -10402.50 Combine like terms: 10402.50 + -10402.50 = 0.00 0.00 + -9500r = 9500 + -10402.50 -9500r = 9500 + -10402.50 Combine like terms: 9500 + -10402.50 = -902.5 -9500r = -902.5 Divide each side by '-9500'. r = 0.095 Simplifying r = 0.095
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