SOLUTION: determine the present value p, you must invest to have a future value,A, at simple interest rate r after time t. round answer to the nearest dollar. A=5500 r=10% t=1 year

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Question 727092:
determine the present value p, you must invest to have a future value,A, at simple interest rate r after time t. round answer to the nearest dollar.
A=5500 r=10% t=1 year
Answer by checkley79(3341) About Me  (Show Source):
You can put this solution on YOUR website!
P(1+.10)^1=5,500
1.1P=5,500
P=5,500/1.1
P=$5,000 IS THE ORIGINAL INVESTMENT.