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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 = $4000.00, A = $5200.00, t = 5 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 = $4000.00, A = $5200.00, t = 5 years % (Round to the nearest tenth of a percent.)

Advanced Engineering Mathematics
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 = $4000.00, A = $5200.00, t = 5 years % (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 = $4000.00, A = $5200.00, t = 5 years % (Round to the nearest tenth of a percent.)
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