#20 i The formula for the future value V (in dollars) of an investment earning simple interest is V=p+prt, where p (in dollars) is the principal, r is the annual interest rate (in decimal form) and t is the time (in years). a. Solve the formula for p. P= b. An investment earns 6% simple interest. What amount of principal is needed to have $3000 after 5 years? Round your answer to the nearest cent. Amount of principal: $ Previous 11 12 13 14 15 16 17 18 19 20 狗 Overview

Q: Noah invests $3,600 for two years.   The account pays 0.43% monthly compound interest. To the…

A: It is given that, principal amount invested is P = $3600, percentage rate is r= 0.43%, No of times…

Q: and savings account for their daughter's college education. The savings account pays an annual…

A:

Q: Suppose that you borrow 20000 dollars from a bank, and that the bank charges 4 percent annual…

A: Suppose that you borrow 20000 dollars from a bank, and that the bank charges 4 percent annual…

Q: How much money should be deposited today in an account that earns 7% compounded monthly so that it…

A:

Q: Tim is saving to buy a $20 000 car in 3 years. He deposits $550 every month into an account earning…

A: We have 3 years to buy a car.

Q: London owes $7,000 on her credit card. The bank charges an annual interest rate of 16.8%, compounded…

A: P=$7,000 , n=18, r=16.8% per year=16.812% per month     ∵1 year=12 months…

Q: At the age of 32, to save for retirement, you decide to deposit $70 at the end of each month in an…

A: Formula Used-  A = P1 + rnnt - 1rn where A is the Future value P is the Deposit value at the end of…

Q: Carl is planning to deposit $2000 into an account with an APR of 3%. The interest is compounded…

A: (a) For the given values, P = principle amount, r = rate of interest , t = time period and n =…

Q: You deposit 120 dollars into an account that pays an interest rate of 6% per year.  a.) Find an…

A:

Q: Compound Interest Pr Directions: Use the formula A- PI+" where A represents the total amount, P…

A: Note: As per company guidelines we should solve only 1 question. So, kindly repost the other…

Q: ate of 6%, how much If the balance at the end of eight years on an investment of $230 that has been…

A: Given amount = $285.20 principal = $230

Q: D=7 3. a. Salma has an investment account which give simple interest with rate (D+2)%. How many…

A: We will find out the required time period.

Q: Shenseeastocking of $4,300 in account today. Shenseeawants to grow for 43 years, nothing Interest…

A: