13.1.29 What is the maximum amount Ginger Logan can borrow today if it must be repaid in 21 months with simple interest at 7% and she knows that at the time she will be able to repay no more than $53,000? She can borrow $47216.04 (Round to the nearest dollar as needed.) XSorry, that's not correct The present value P of a future amount of A dollars at a simple interest rate r fort A years is given by P 1 rt OK

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13.1.29
What is the maximum amount Ginger Logan can borrow today if it must be repaid in 21 months with simple interest at 7% and she knows that at the time she will be able to repay no more than $53,000?
She can borrow $47216.04
(Round to the nearest dollar as needed.)
XSorry, that's not correct
The present value P of a future amount of A dollars at a simple interest rate r fort
A
years is given by P
1 rt
OK
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Transcribed Image Text

13.1.29 What is the maximum amount Ginger Logan can borrow today if it must be repaid in 21 months with simple interest at 7% and she knows that at the time she will be able to repay no more than $53,000? She can borrow $47216.04 (Round to the nearest dollar as needed.) XSorry, that's not correct The present value P of a future amount of A dollars at a simple interest rate r fort A years is given by P 1 rt OK

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