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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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Question
The principal P is borrowed and the loans future value A at time t is given. Determine the loans simple interest rate r.
P= $9,000.00 A=$12,600.00 t=5 years
(round to the nearest tenth of a percent as needed)
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