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Determine the present value P you must invest to have the future value A at simple interest rate r after time t. A = $14,000, r = 11.5%, t = 5 years The present value that must be invested to get $14,000 after 5 years at an interest rate of 11.5% is $ to the nearest cent.) (Round up

Determine the present value P you must invest to have the future value A at simple interest rate r after time t. A = $14,000, r = 11.5%, t = 5 years The present value that must be invested to get $14,000 after 5 years at an interest rate of 11.5% is $ to the nearest cent.) (Round up

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Determine the present value P you must invest to have the future value A at simple interest rate r after time t. A = $14,000, r = 11.5%, t = 5 years The present value that must be invested to get $14,000 after 5 years at an interest rate of 11.5% is $ to the nearest cent.) (Round up
Transcribed Image Text:Determine the present value P you must invest to have the future value A at simple interest rate r after time t. A = $14,000, r = 11.5%, t = 5 years The present value that must be invested to get $14,000 after 5 years at an interest rate of 11.5% is $ to the nearest cent.) (Round up
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