SOLUTION: If the principal P =$700, the rate =4 1/2%, and the time t= 1 year, find the following.
A.) what is the amount of interest?
B.) what is the future value?
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A.) what is the amount of interest?
B.) what is the future value?
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Question 634441: If the principal P =$700, the rate =4 1/2%, and the time t= 1 year, find the following.
A.) what is the amount of interest?
B.) what is the future value? Answer by unlockmath(1688) (Show Source):
You can put this solution on YOUR website! Hello,
Multiply interest times amount.
We get:
$31.50 interest for 1 year.
That will be $731.50
Make sense?
RJ
www.math-unlock.com
