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 $

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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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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