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. Round answer to the nearest cent. P = $700, r = 8.25%, t = 3 months (Round to the nearest cent as needed.) O $719.44 O $714.44 O $715.75 $873.25

Advanced Engineering Mathematics
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ISBN:9780470458365
Author:Erwin Kreyszig
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Chapter2: Second-order Linear Odes
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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. Round answer to the
nearest cent.
P = $700, r = 8.25%, t = 3 months
%3D
(Round to the nearest cent as needed.)
$719.44
$714.44
$715.75
$873.25
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. Round answer to the nearest cent. P = $700, r = 8.25%, t = 3 months %3D (Round to the nearest cent as needed.) $719.44 $714.44 $715.75 $873.25
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