help me check if my classmate's marcela calculation is correct. For this discussion, I chose an amount of $1,500 as the balance I hope to have in my savings account after earning simple interest. Since my last name begins with the letter "V," I am instructed to select values for the rate and time, then solve for the principal. Chosen Variables Amount (A): $1,500 Interest Rate (r): 5% or 0.05 (as a decimal) Time (t): 3 years I will be solving for the principal (p), the initial amount that would need to be invested to reach my desired balance of $1,500. Equation and Solution The formula for the amount after earning simple interest is: A equals p plus p times r times t Substituting in my chosen values, the equation becomes: 1500 equals p plus p times 0.05 times 3 To simplify, I combine terms involving pp: 1500 equals p not stretchy left parenthesis 1 plus not stretchy left parenthesis 0.05 cross times 3 not stretchy right parenthesis not stretchy right parenthesis Calculating the interest factor: 1500 equals p times 1.15 Finally, I solve for pp by dividing both sides by 1.15: p equals fraction numerator 1500 over denominator 1.15 end fraction almost equal to 1304.35 The solution shows that I would need to invest approximately $1,304.35 at a 5% interest rate for 3 years to reach my goal of $1,500. This solution seems reasonable, as it aligns with the expected growth from simple interest over the given time frame