SOLUTION: Determine the present value P you must invest to have the future value A at simple interst rate r after time t.
A= $2000.00 r= 15.0% t= 9 months $________
Please help
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Determine the present value P you must invest to have the future value A at simple interst rate r after time t.
A= $2000.00 r= 15.0% t= 9 months $________
Please help
Log On
Question 321640: Determine the present value P you must invest to have the future value A at simple interst rate r after time t.
A= $2000.00 r= 15.0% t= 9 months $________
Please help
You can put this solution on YOUR website! Determine the present value P you must invest to have the future value A at simple interst rate r after time t.
---
A(t) = P(1+rt)
------------------------
A= $2000.00 r= 15.0% t= 9 months
---
2000 = P(1+0.15*(3/4))
2000 = P(1+0.1125)
P = 2000/1.1125
P = $1797.75
___
Cheers,
Stan H.
(