What simple interest rate is necessary for $10,000 to earn $100 interest in 15 months? If A(4) = $1,200 and A(n) = $1,800, (a) what is A(0), assuming a simple interest of 6%? (b) what is n if i = 0.06 assuming simple interest.

What simple interest rate is necessary for $10,000 to earn $100 interest in 15 months? If A(4) = $1,200 and A(n) = $1,800, (a) what is A(0), assuming a simple interest of 6%? (b) what is n if i = 0.06 assuming simple interest.

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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Question

What simple interest rate is necessary for $10,000 to earn $100 interest in 15 months?

If A(4) = $1,200 and A(n) = $1,800,

(a) what is A(0), assuming a simple interest of 6%?
(b) what is n if i = 0.06 assuming simple interest.

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