SOLUTION: Find the unknown qanity for an account that earns simple annual interest.
A = $579, P = $300,
r = 6.2%, t=___
Any help with this equation would be <b>Greatly</b> appreci
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-> SOLUTION: Find the unknown qanity for an account that earns simple annual interest.
A = $579, P = $300,
r = 6.2%, t=___
Any help with this equation would be <b>Greatly</b> appreci
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Question 125268: Find the unknown qanity for an account that earns simple annual interest.
A = $579, P = $300,
r = 6.2%, t=___
Any help with this equation would be Greatly appreciated. Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! years answer
At the end of each year with simple interest I have:
1st year: $300 + 1*.062*300
2nd year $300 + 2*.062*300
3rd year $300 + 3*.062*300
etc.
So the general formula is
A = P(1 + rt)
check answer
OK
