I simply need to figure out how to write this into an equation and then solve.

Question

Simple interest is given by the formula A=P+Prt�=�+���. Where A� is the balance of the account after t� years, and P� is the starting principal invested at an annual percentage rate of r�, expressed as a decimal.		Ervin is investing money into a savings account that pays 4% simple interest, and plans to leave it there for 20 years. Determine what Ervin needs to deposit now in order to have a balance of $20,000 in his savings account after 20 years.		Ervin will have to invest $ now in order to have a balance of $20,000 in his savings account after 20 years. Round your answer to the nearest dollar.

Answer 1

20000 = p(1 + 0.04)(20)

Can you solve for p and answer?