Determine the present value P that must be invested to have the future value A at simple interest rate r after time t. A = $7000, r = 1.75%, t = 9 months The present value P that must be invested is $ (Round up to the nearest cent as needed.)
Determine the present value P that must be invested to have the future value A at simple interest rate r after time t. A = $7000, r = 1.75%, t = 9 months The present value P that must be invested is $ (Round up to the nearest cent as needed.)
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 2E
Question
The present value P that must be invested is $
(Round up to the nearest cent as needed.)
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