document.write( "Question 166292: find the present value of an investment at 4% annual simple interest and is worth $6900 after 7 years?
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Algebra.Com's Answer #122588 by Fombitz(32388) $\"\"$ $\"About$

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Simple interest formula,
\n" ); document.write( " $\"F=P%281%2Bni%29\"$
\n" ); document.write( "where F is the future value, P is the present value, i is interest rate, n is the number of periods.
\n" ); document.write( " $\"F=P%281%2Bni%29\"$
\n" ); document.write( " $\"6900=P%281%2B7%280.04%29%29\"$
\n" ); document.write( " $\"6900=P%281%2B0.28%29\"$
\n" ); document.write( " $\"P=5390.63\"$
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