Use the simple interest formula to determine the missing value. p= ?, r= 4%, t= 3 months, i = $16 p= S (Round to the nearest cent as needed.)
Use the simple interest formula to determine the missing value. p= ?, r= 4%, t= 3 months, i = $16 p= S (Round to the nearest cent as needed.)
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
ChapterP: Prerequisites
SectionP.9: Modeling With Equations
Problem 2E: In the formula I=prt for simple interest, P stands for __________, r for _________, and t...
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![Use the simple interest formula to determine the missing value.
p= ?, r= 4%, t= 3 months, i = $16
p= s (Round to the nearest cent as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fef9e1184-d530-448b-8cef-1f47d4bcc9be%2F6c93c565-093f-48af-830c-0840172e1126%2Fid92vxc_processed.png&w=3840&q=75)
Transcribed Image Text:Use the simple interest formula to determine the missing value.
p= ?, r= 4%, t= 3 months, i = $16
p= s (Round to the nearest cent as needed.)
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