he principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r. P = $6000.00, A = $8400.00, t = 5 years
he principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r. P = $6000.00, A = $8400.00, t = 5 years
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 2E
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The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r.
P = $6000.00, A = $8400.00, t = 5 years
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