Use the formula  A = P(1 + rt)  to calculate the maturity value of the simple interest loan. (Round your answer to two decimal places.) P = $3000, r = 8.8%, t = 5 months

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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Use the formula 

A = P(1 + rt)

 to calculate the maturity value of the simple interest loan. (Round your answer to two decimal places.)

P = $3000, r = 8.8%, t = 5 months
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