The principal P is borrowed at simple interest rate r for a period of time t. Fi

Question

The principal P is borrowed at 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. Round answer to the nearest cent. P = $160, r = 7%, t = 3 years $171.20 $1033.60 $181.00 $193.60 P = $500, r = 6.25%, t = 7 months $718.75 $523.23 $518.23 $519.89 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 = $140, A = $190.40, t = 4 years 18% 5.5% 9.4% 9% Determine the present value, P, you must invest to have the future value, A, at simple interest rate r after time t Roar answer to the nearest dollar. A = $204.80, r = 7%, t = 4 years $164.70 $164 $160 $167 The principal represents an amount of money deposited in a savings account subject to compound interest at the giver, rate. Find how much money will be in the account after the given number of years (Assume 360 days in a year), and how much interest was earned. A = P(1 + r/n)^nt P = A/(1 + r/n)^nt A =Pe^rt Y = (1 + r/n)^n - 1 ______ Principal: $8000 Rate: 4% Compounded: semiannually

Explanation / Answer

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Given Principle = 160 $ Rate Of Interest (I) = 7 % Time Period (T) = 3 years Formula Simple Interest = P X R X T / 100 = 33.6 Amount = P + Simple Interest = 193.6 = Option D

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