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 = $3800.00, A = $3914.00, t 6 months | % (Round to the nearest tenth of a percent.)

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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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 = $3800.00, A = $3914.00, t 6 months
| % (Round to the nearest tenth of a percent.)
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 = $3800.00, A = $3914.00, t 6 months | % (Round to the nearest tenth of a percent.)
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