If the present value of an item is P
1 answer:
Answer:
<u>$50,000</u>
Step-by-step explanation:
Formula to find interest :
I = Prt
Solving :
- I = (20,000)(0.06)(25)
- I = (1.5)(20,000)
- I = (30,000)
Future value :
- P + I
- 20,000 + 30,000
- <u>$50,000</u>
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