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Find the future value, A of a simple interest loan of $28,500 at 9.5% interest for 7 months. The future value formula is A = P(1 + rt) where P is the principal, r is the interest rate as a decimal, and t is time in years.

Find the future value, A of a simple interest loan of $28,500 at 9.5% interest for 7 months. The future value formula is A = P(1 + rt) where P is the principal, r is the interest rate as a decimal, and t is time in years.

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Find the future value, A of a simple interest loan of $28,500 at 9.5% interest for 7 months. The future value formula is A P(1 + rt) where P is the principal, r is the interest rate as a decimal, and t is time in years. = Give your answer to the nearest cent
Transcribed Image Text:Find the future value, A of a simple interest loan of $28,500 at 9.5% interest for 7 months. The future value formula is A P(1 + rt) where P is the principal, r is the interest rate as a decimal, and t is time in years. = Give your answer to the nearest cent
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