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Simplifying 4970 = P(1 + (0.07 * 6)) Multiply 0.07 * 6 4970 = P(1 + (0.42)) 4970 = P(1 + 0.42) Combine like terms: 1 + 0.42 = 1.42 4970 = P(1.42) Reorder the terms for easier multiplication: 4970 = 1.42P Solving 4970 = 1.42P Solving for variable 'P'. Move all terms containing P to the left, all other terms to the right. Add '-1.42P' to each side of the equation. 4970 + -1.42P = 1.42P + -1.42P Combine like terms: 1.42P + -1.42P = 0.00 4970 + -1.42P = 0.00 Add '-4970' to each side of the equation. 4970 + -4970 + -1.42P = 0.00 + -4970 Combine like terms: 4970 + -4970 = 0 0 + -1.42P = 0.00 + -4970 -1.42P = 0.00 + -4970 Combine like terms: 0.00 + -4970 = -4970 -1.42P = -4970 Divide each side by '-1.42'. P = 3500 Simplifying P = 3500
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