The principalP is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rater to the nearest tenth of a percent. P= $2100.00, A = $2147.25, t = 3 months % (Round to the nearest tenth of a percent.)

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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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 to the nearest tenth of a percent.
P = $2100.00, A = $2147.25, t = 3 months
% (Round to the nearest tenth of a percent.)
Transcribed Image Text: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 to the nearest tenth of a percent. P = $2100.00, A = $2147.25, t = 3 months % (Round to the nearest tenth of a percent.)
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