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 = 15.0%, t = 3 months (Round up to the nearest cent as needed.)

Essentials Of Investments
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ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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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 = $5000.00,r = 15.0%, t = 3 months
(Round up to the nearest cent as needed.)
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 = $5000.00,r = 15.0%, t = 3 months (Round up to the nearest cent as needed.)
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