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Simplifying 8260 = 7000[1 + r(4)] Reorder the terms for easier multiplication: 8260 = 7000[1 + 4r] 8260 = [1 * 7000 + 4r * 7000] 8260 = [7000 + 28000r] Solving 8260 = 7000 + 28000r Solving for variable 'r'. Move all terms containing r to the left, all other terms to the right. Add '-28000r' to each side of the equation. 8260 + -28000r = 7000 + 28000r + -28000r Combine like terms: 28000r + -28000r = 0 8260 + -28000r = 7000 + 0 8260 + -28000r = 7000 Add '-8260' to each side of the equation. 8260 + -8260 + -28000r = 7000 + -8260 Combine like terms: 8260 + -8260 = 0 0 + -28000r = 7000 + -8260 -28000r = 7000 + -8260 Combine like terms: 7000 + -8260 = -1260 -28000r = -1260 Divide each side by '-28000'. r = 0.045 Simplifying r = 0.045
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