Determine the present value P you must invest to have the future value A at simple interest rate r after time t. A = $9500, r = 3.0%, t = 5 years (Round up to the nearest cent.)
Determine the present value P you must invest to have the future value A at simple interest rate r after time t. A = $9500, r = 3.0%, t = 5 years (Round up to the nearest cent.)
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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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 = $9500, r = 3.0%, t = 5 years
(Round up to the nearest cent.)
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