The principal P is borrowed at a simple interest rate r for a period of time t. Find the loan's future value A, or the total amount due at time t. P = $2000, r = 8.0%, t= 8 months The loan's future value is $ (Do not round until the final answer. Then round to the nearest cent as needed.)

The principal P is borrowed at a simple interest rate r for a period of time t. Find the loan's future value A, or the total amount due at time t. P = $2000, r = 8.0%, t= 8 months The loan's future value is $ (Do not round until the final answer. Then round to the nearest cent as needed.)

Financial Management: Theory & Practice

16th Edition

ISBN:9781337909730

Author:Brigham

Publisher:Brigham

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 12MC: (1) What is the value at the end of Year 3 of the following cash flow stream if the quoted interest...

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The principal P is borrowed at a simple interest rate r for a period of time t. Find the loan's future value A, or the total amount due at time t.
P = $2000, r= 8.0%, t= 8 months
The loan's future value is $.
(Do not round until the final answer. Then round to the nearest cent as needed.)

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