If P dollars are invested for t years at a simple interest rate​ r, the future value of the investment is A=P+Prt If $1,900 invested for 4 years gives a future value of $2,508​, what is the simple interest rate of this​ investment?

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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If P dollars are invested for t years at a simple interest rate​ r, the future value of the investment is A=P+Prt If $1,900 invested for 4 years gives a future value of $2,508​, what is the simple interest rate of this​ investment?

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