Suppose that Peter was able to borrow $4750 from a friend with a simple interest rate of 1.1%. If Peter promised to pay his friend back after 21 months, what is the total amount that he needs to pay back his friend? Only round the final step in your calculation. Do not round during the intermediate steps. Which formula will you use to solve this problem? Formula 1: A = P(1+rt) Formula 2: n•t P(1+ )** Formula 3: A = Pe"t (Enter the number only) Your choice of the formula number is What value will you use for t in the formula? The value of t that I will use for the formula is: To the nearest dollar, the total amount that Peter needs to pay back his friend is $

Suppose that Peter was able to borrow $4750 from a friend with a simple interest rate of 1.1%. If Peter promised to pay his friend back after 21 months, what is the total amount that he needs to pay back his friend? Only round the final step in your calculation. Do not round during the intermediate steps. Which formula will you use to solve this problem? Formula 1: A = P(1+rt) Formula 2: n•t P(1+ )** Formula 3: A = Pe"t (Enter the number only) Your choice of the formula number is What value will you use for t in the formula? The value of t that I will use for the formula is: To the nearest dollar, the total amount that Peter needs to pay back his friend is $

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter7: Systems Of Equations And Inequalities

Section7.2: Systems Of Linear Equations: Three Variables

Problem 63SE: You inherit one million dollars. You invest it all in three accounts for one year. The first account...

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Question

Suppose that Peter was able to borrow $4750 from a friend with a simple interest rate of 1.1%. If Peter promised to pay his friend back after 21 months, what is the total
amount that he needs to pay back his friend? Only round the final step in your calculation. Do not round during the intermediate steps.
Which formula will you use to solve this problem?
Formula 1:
A = P(1+rt)
Formula 2:
n•t
A = P(1+)*
Formula 3:
A =
Pert
(Enter the number only) Your choice of the formula number is
What value will you use for t in the formula? The value oft that I will use for the formula is:
To the nearest dollar, the total amount that Peter needs to pay back his friend is $

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