Determine the present value P that must be invested to have the future value A at simple interest rate r after time t. A = $5000.00, r = 9.0%, t = 6 months
Determine the present value P that must be invested to have the future value A at simple interest rate r after time t. A = $5000.00, r = 9.0%, t = 6 months
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter2: Equations, Inequalities, And Problem Solving
Section2.S: Summary
Problem 8S: What interest rate would you need to get to double an investment of 200 in eight years?
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Question
Determine the present value P that must be invested to have the future value A at simple interest rate r after time t.
A =
$5000.00,
r =
9.0%,
t =
6
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