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 = $4900.00, A = $5022.50, t= 6 months % (Round to the nearest tenth of a percent as needed.)
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 = $4900.00, A = $5022.50, t= 6 months % (Round to the nearest tenth of a percent as needed.)
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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