Determine the present value P you must invest to have the future A at simple interest rate r after time t A= $12,000 , r=11.5% , t = 2 years The present value that must be invested to get $12,000 after 2 years at an interest rate of 11.5% is $_____ (Round up to the nearest cent)
Determine the present value P you must invest to have the future A at simple interest rate r after time t A= $12,000 , r=11.5% , t = 2 years The present value that must be invested to get $12,000 after 2 years at an interest rate of 11.5% is $_____ (Round up to the nearest cent)
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
ChapterP: Prologue: Calculator Arithmetic
Section: Chapter Questions
Problem 35SBE: Future Value In certain savings scenarios, the value F of an investment after t years, the future...
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Determine the present value P you must invest to have the future A at simple interest rate r after time t
A= $12,000 , r=11.5% , t = 2 years
The present value that must be invested to get $12,000 after 2 years at an interest rate of 11.5% is $_____ (Round up to the nearest cent)
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