Determine the present value P you must invest to have the future value A at simple interest rate r after time t. A = $19,000, r = 6.5%, t = 4 years The present value that must be invested to get $19,000 after 4 years at an interest rate of 6.5% is $.. (Round up to the nearest cent.)
Determine the present value P you must invest to have the future value A at simple interest rate r after time t. A = $19,000, r = 6.5%, t = 4 years The present value that must be invested to get $19,000 after 4 years at an interest rate of 6.5% 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 value A at simple interest rate r after time t.
A = $19,000,
r = 6.5%,
t = 4 years
r = 6.5%,
t = 4 years
The present value that must be invested to get $19,000 after 4 years at an interest rate of 6.5% is $.. (Round up to the nearest cent.)
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