Determine the present value P that must be invested to have the future value A at simple interest rate r after time t.   A​ = ​$9000​, r​ = 12​%, t​ = 3 years

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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Determine the present value P that must be invested to have the future value A at simple interest rate r after time t.
 
A​ =
​$9000​,
r​ =
12​%,
t​ =
3
years
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