The principal P is borrowed at simple interest rate r for a period of time t. Find the loan's future value, A, or the total amount due at time t P=$18,000, r=6.5%, t= 5 years The future value is $. (Simplify your answer. Type an integer or a decimal.) FER
The principal P is borrowed at simple interest rate r for a period of time t. Find the loan's future value, A, or the total amount due at time t P=$18,000, r=6.5%, t= 5 years The future value is $. (Simplify your answer. Type an integer or a decimal.) FER
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Please help me with this math homework problem. The answer that I came up with was $23,925 and it was incorrect. Then I entered the answer.$60,300 that she was also incorrect. Please he
![The principal P is borrowed at simple interest rate r for a period of time t. Find the loan's future value, A, or the total
amount due at time t.
P= $18,000, r=6.5%, t= 5 years
The future value is $
(Simplify your answer. Type an integer or a decimal.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5ca18f06-6120-4585-ae44-a8f3c867d47f%2Fe1d9ed84-5b65-4fa9-a1c5-603a5f375c3a%2Fvydmwm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The principal P is borrowed at simple interest rate r for a period of time t. Find the loan's future value, A, or the total
amount due at time t.
P= $18,000, r=6.5%, t= 5 years
The future value is $
(Simplify your answer. Type an integer or a decimal.)
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