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Simplifying 1500 = P[1 + 0.025(6)] Multiply 0.025 * 6 1500 = P[1 + 0.15] Combine like terms: 1 + 0.15 = 1.15 1500 = P[1.15] Reorder the terms for easier multiplication: 1500 = 1.15P Solving 1500 = 1.15P Solving for variable 'P'. Move all terms containing P to the left, all other terms to the right. Add '-1.15P' to each side of the equation. 1500 + -1.15P = 1.15P + -1.15P Combine like terms: 1.15P + -1.15P = 0.00 1500 + -1.15P = 0.00 Add '-1500' to each side of the equation. 1500 + -1500 + -1.15P = 0.00 + -1500 Combine like terms: 1500 + -1500 = 0 0 + -1.15P = 0.00 + -1500 -1.15P = 0.00 + -1500 Combine like terms: 0.00 + -1500 = -1500 -1.15P = -1500 Divide each side by '-1.15'. P = 1304.347826 Simplifying P = 1304.347826
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