Find the requested value and tell what the other numbers represent. (a) Find r: 500 = 1,000(r)(8) (Enter the rate as a decimal.) r =? Identify the following. interest $? principal $? time (b)Find P: 6,480 = P + P(0.04)(2) P =$ ? Identify the following. (Enter the rate as a decimal.) future value $? rate ? time ?

Find the requested value and tell what the other numbers represent. (a) Find r: 500 = 1,000(r)(8) (Enter the rate as a decimal.) r =? Identify the following. interest $? principal $? time (b)Find P: 6,480 = P + P(0.04)(2) P =$ ? Identify the following. (Enter the rate as a decimal.) future value $? rate ? time ?

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter8: Sequences And Series

Section8.4: Mathematics Of Finance

Problem 26E

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