Determine the present value P that must be invested to have the future value A at simple interest rate r after time t. A​ =​$3500​,r​ =5​%,t​ =4years Round to the nearest cent. Please write out the problem

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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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​ =​$3500​,r​ =5​%,t​ =4years
Round to the nearest cent. Please write out the problem
 
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