contestada

the principal P is borrowed at simple interest rate r for a peried of time t. Find the loan's future value, A, or the total amount due at time f. Round answer to the nearest cent. 5. P= $5000 r=7% tel year 6. P-SI60 r=3% t=3 years 7. P- $200.00 r=7% t= 6 months 8. P-S6500 r8.5% t= 22 months

Respuesta :

Given :

The principal P is borrowed at simple interest rate r for a period of time t.

so, the interest = P * r * t

5. P = $5000 , r = 7% = 0.07 , t = 1 year

so,

interest = 5000 * 0.07 * 1 = 350

so, the loan's future value = A = 5000 + 350 = $5,350

Otras preguntas