The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r to the nearest tenth of a percent. P= $9000.00, A = $11160.00, t = 3 years % (Round to the nearest tenth of a percent.)
The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r to the nearest tenth of a percent. P= $9000.00, A = $11160.00, t = 3 years % (Round to the nearest tenth of a percent.)
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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![The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r to the nearest tenth of a percent.
P = $9000.00, A = $11160.00, t = 3 years
% (Round to the nearest tenth of a percent.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3d1c2d0e-4f3c-45c9-89d4-361213ea8b7f%2F83f17f30-5b97-4612-bad7-582cc9381f63%2Ftgtnsy_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r to the nearest tenth of a percent.
P = $9000.00, A = $11160.00, t = 3 years
% (Round to the nearest tenth of a percent.)
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