Proportional Relationships with Simple Interests

Question

This year, a softball Coach raised $1200 For new equipment. That is 4%less than he raised last year. How much did he raise last year? Explain.

Answer 1

 

A = P(1+rt)

A = 1200(1+(0.04x1))

A = 1200(1.04)

A = 1248

 

So last year $1248 was raised.