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= $4,800, A= $4,902, t= 3 months
?(Round to the nearest tenth of a? percent.)
Determine the present value P you must invest to have the future value A at simple interest rate r after time t.
A= $17,000, r= 5.5%, t= 3 years.
The present value that must be invested to get $17,000 after 3 years at an interest rate of 5.5% is $? (Round up to the nearest? cent.)
Determine the present value P you must invest to have the future value A at simple interest rate r after time t.
A= $4,000, r= 12.5% t= 9 months
(Round up to the nearest? cent.)