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Determine the present value P that must be invested to have the future value A at simple interest rate r after time t. A = $2500, r = 11%, t = 3 years

Determine the present value P that must be invested to have the future value A at simple interest rate r after time t. A = $2500, r = 11%, t = 3 years

Elementary Geometry For College Students, 7e
Elementary Geometry For College Students, 7e
7th Edition
ISBN:9781337614085
Author:Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.
ChapterP: Preliminary Concepts
SectionP.CT: Test
Problem 1CT
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Determine whether the following statement makes sense or does not make sense, and explain your reasoning. I find the hardest part in solving a word problem is writing the equation that models the verbal conditions. ... Choose the correct answer below. A. The statement makes sense. It is very easy to understand the problem, and identify what is given and what is asked, in order to write the equation in x that translates, or models, the conditions of the problem, but difficult to solve the equation. B. The statement makes sense. It is hard to understand the problem, and difficult to identify what is given and what is asked, in order to write the equation in x that translates, or models, the conditions of the problem. C. The statement does not make sense. It is very easy to understand the problem, and identify what is given and what is asked, in order to write the equation in x that translates, or models, the conditions of the problem. D. The statement does not make sense. It is very easy to understand the problem, and identify what is given and what is asked, in order to write the equation in x that translates, or models, the conditions of the problem, but difficult to solve the equation.
Transcribed Image Text:Determine whether the following statement makes sense or does not make sense, and explain your reasoning. I find the hardest part in solving a word problem is writing the equation that models the verbal conditions. ... Choose the correct answer below. A. The statement makes sense. It is very easy to understand the problem, and identify what is given and what is asked, in order to write the equation in x that translates, or models, the conditions of the problem, but difficult to solve the equation. B. The statement makes sense. It is hard to understand the problem, and difficult to identify what is given and what is asked, in order to write the equation in x that translates, or models, the conditions of the problem. C. The statement does not make sense. It is very easy to understand the problem, and identify what is given and what is asked, in order to write the equation in x that translates, or models, the conditions of the problem. D. The statement does not make sense. It is very easy to understand the problem, and identify what is given and what is asked, in order to write the equation in x that translates, or models, the conditions of the problem, but difficult to solve the equation.
Determine the present value P that must be invested to have the future value A at simple interest rate r after time t. A = $2500, r = 11%, t = 3 years ... $ (Round up to the nearest cent.)
Transcribed Image Text:Determine the present value P that must be invested to have the future value A at simple interest rate r after time t. A = $2500, r = 11%, t = 3 years ... $ (Round up to the nearest cent.)
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