3 years ago

Find the present value of $10,000 payable in five years at 6% simple interest.

1 answer:

6 0

We know, I = P * R * T /100
Here, P = 10,000
R = 6%
T = 5

Substitute their values into the expression,
I = 10000 * 6 * 5 /100
I = 300000 / 100
I = 300

Final Amount = Initial Amount + Interest Amount
Final Amount = 10,000 + 300 = 10,300

So, your final answer is $10,300

Hope this helps!

You might be interested in

Students in a high school woodworking class wants to conduct a survey to determine the percentage of students in the school who

Karo-lina-s [1.5K]

Answer:

a) cluster sampling

Step-by-step explanation:

In cluster sampling method, each member of a population is assigned to one and only one group.This means clusters are formed through probability method usually a simple random sampling.The participants in the clusters are the only one to be surveyed.

In this example, simple random sampling is used to identify 12 home rooms(cluster) where a group of 20 students (participants) in each room is given the survey.

4 0

4 years ago

What values are excluded from the domain and range of the function f(x)=x+3/2x+5?

Alexxandr [17]

Please see attached image with my answer.