document.write( "Question 927371: Find the future value of $5800 deposited at 12% for 2 years and 3 months if the interest is simple interest. \n" ); document.write( "

Algebra.Com's Answer #562904 by srinivas.g(540) $\"\"$ $\"About$

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Principal Amount(P)= $ 5800
\n" ); document.write( "Time (t)= 2 years 3 months = 2 years +1/4 of year
\n" ); document.write( " = 2 year +0.25 year
\n" ); document.write( " = 2.25 years
\n" ); document.write( " rate (r)= 12 %\r
\n" ); document.write( "\n" ); document.write( "Interest $\"+%28I%29=++P%2At%2Ar%2F100\"$
\n" ); document.write( " $\"+I+=+5800%2A2.25%2A12+%2F100\"$
\n" ); document.write( " $\"+I=+58%2A2.25%2A12\"$
\n" ); document.write( " I = $ 1566\r
\n" ); document.write( "\n" ); document.write( "Future Value = P+I
\n" ); document.write( " = 5800+1566
\n" ); document.write( " =7366
\n" ); document.write( "Result : future Value = $ 7366\r
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

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