SOLUTION: $39,900 is invested for 6 months at 8% p.a.
What is the future value and interest?
Algebra.Com
Question 1177182: $39,900 is invested for 6 months at 8% p.a.
What is the future value and interest?
Answer by MathLover1(20850) (Show Source): You can put this solution on YOUR website!
First, converting percent to a decimal
per year.
Putting time into years for simplicity,
year = years
Solving our equation:
=>the future value
The total amount accrued, principal plus interest, from simple interest on a principal of $ at a rate of % per year for years ( months) is $.
=> interest earned
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