Use the formula for the amount, A = P(1 + rt), to find the indicated quantity....
27). 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. P = $5000.00, A = $6500.00, t = 4 years % (Round to the nearest tenth of a percent as needed.) 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. P = $4300.00, A = $4380.63, t = 3 months % (Round...
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=1800.00 A=1921.50 t=9 months
The principal P is borrowed at simple interest rater 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. 37) P = $11,000.00, r = 9%, t = 150 days A) $11,412.50 B) $11,425.50 $11,406.85 D) $159,505.00
Question 28 5 pts The principal P = $200 is borrowed at simple interest rater = 7% for a period of time 6 months. Find the loan's future value, A; i.e. find the total amount due after 6 months. $1007.00 $212.00 $284.00 $207.00
Question 13 3.33 pts The principal Pis borrowed at simple interest rater for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year and round answer to the nearest cent. P - $7900 4.5% 14 months $414.75 $8314.75 $4977.00 $452.45
5. Use the formula 4 = P(1 +rt) to calculate the maturity value of the simple interest loan when P= $3400 r6.6% and2 months Answer: 6. Calculate the simple interest rate when P $3600, I= $160 and4months. Round to the nearest hundredth.
n1 Use the model A - Pe" or A-P where A is the future value of P dollars invested at interest rater compounded continuously or n times per year for years. Victor puts aside $10,000 in an account with interest compounded continuously at 2.2%. How long will it take for him to earn $2000? Round to the nearest month. It will take approximately years and months for him to earn $2000. where A is the future value of P dollars...
Simple interest is given by the formula A=P+PrtA=P+Prt. Where AA is the balance of the account after tt years, and PP is the starting principal invested at an annual percentage rate of rr, expressed as a decimal. Keegan is investing money into a savings account that pays 4% simple interest, and plans to leave it there for 20 years. Determine what Keegan needs to deposit now in order to have a balance of $50,000 in his savings account after 20...
Simple Interest USE A 360 DAY YEAR Calculate the simple interest amount and the future value using the simple interest formula. 365 day year Principal Interest Rate Time Simple Interest Amount Future Value $ 18,000 4.5% 18 months $ 21,000 5% 1.75 Years $ 18,000 7.25% 9 months $ 1,000 8% 93 days $ 585 9% 193 days $ 1,200 12% 187 days 1) Leslie Hart borrowed $15,000 to pay for her child’s education. Leslie must repay the loan...
Please answer all!! An amount of P dollars is borrowed for the given length of time at an annual interest rate of r. Find the simple interest that is owed. (Round your answe to the nearest cent.) P = $3000, r = 4.0%, 3 months Additional Materials eBook -/1 points v AFM2 F.1.004. My Notes An amount of P dollars is borrowed for the given length of time at an annual interest rate of r. Find the simple interest that...