Calculate the future value of a simple interest loan of 15,500 DHS at a rate of 2.5% for six (6) months. Identify the Principal amount DHS Identify the Rate (as used in equation for calculation) Identify the Time (as used in the equation for calculation) years Calculate the future value of a simple interest loan of 15,500 DHS at a rate of 2.5% for six (6) months. Round the answer to the nearest fil (two (2) numbers behind the point.) The future value of the loan after 6 months that will be paid back is DHS.
Calculate the future value of a simple interest loan of 15,500 DHS at a rate of 2.5% for six (6) months. Identify the Principal amount DHS Identify the Rate (as used in equation for calculation) Identify the Time (as used in the equation for calculation) years Calculate the future value of a simple interest loan of 15,500 DHS at a rate of 2.5% for six (6) months. Round the answer to the nearest fil (two (2) numbers behind the point.) The future value of the loan after 6 months that will be paid back is DHS.
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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Transcribed Image Text:Calculate the future value of a simple interest loan of 15,500 DHS at a rate of
2.5% for six (6) months.
Identify the Principal amount
DHS
Identify the Rate (as used in equation for calculation)
Identify the Time (as used in the equation for calculation)
years
Calculate the future value of a simple interest loan of 15,500 DHS at a rate of
2.5% for six (6) months. Round the answer to the nearest fil (two (2) numbers
behind the point.)
The future value of the loan after 6 months that will be paid back is
DHS.
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