SOLUTION: A=$6000,r=8,t=2years

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: A=$6000,r=8,t=2years       Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 187540: A=$6000,r=8,t=2years
Found 2 solutions by Mathtut, checkley77:
Answer by Mathtut(3670) About Me  (Show Source):
You can put this solution on YOUR website!
A=P(1+rt)
:
6000=P(1+.08(2))
:
6000=1.16P
:
P=$5172.41

Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
A=$6000,r=8,t=2years
A(1+R)^T
6000(1+.08)^2
6000(1.08)^2
6000*1.1664=$6,998.40 ANS.