Equations Formulas are equations that have been used so frequently in certain applications that they have become standard. Examples are the simple interest formula, I = PRT, and selling price, S = C + M. Many fields, like accounting, manufacturing, photography, real estate, construction estimation, statistics, retail, etc., use formulas to make calculations quickly and conveniently. Investigate your major field or some other field of interest to determine what formulas are used. 1. Collect two formulas for your chosen field. 2. Explain the following: meaning of the symbols, what the formulas are used for, and how to solve the formulas. Use an example for this purpose. A suggestion is that you might interview instructors, recognized experts, and other professionals for this purpose. 3. Discuss the advantages of using the formulas, any difficulties in using them, and whether computers are used with them. 4. Discuss also why some fields may not use formulas. Present these findings to your classmates