The principal P is borrowed at a simple interest rater for a period of time t. Find the loan's future value A, or the total amount due at time t. P=$6000, r=4.5%, t = 4 months The loan's future value is $. (Do not round until the final answer. Then round to the nearest cent as needed.)
The principal P is borrowed at a simple interest rater for a period of time t. Find the loan's future value A, or the total amount due at time t. P=$6000, r=4.5%, t = 4 months The loan's future value is $. (Do not round until the final answer. Then round to the nearest cent as needed.)
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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Transcribed Image Text:The principal P is borrowed at a simple interest rater for a period of time t. Find the loan's future value A, or the total
amount due at time t.
P=$6000, r=4.5%, t = 4 months
The loan's future value is $.
(Do not round until the final answer. Then round to the nearest cent as needed.)
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