Vince borrows $900 to buy a couch. He will pay off the loan by paying 1.5% simple interest for 2 years. Vince incorrectly calcul
1 answer:
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The future value of the investment in dollars s
V = p + prt
where
p = principal, dollars
r = annual interest rate (in decimal form)
t = time, years
To determine p, write the formula as follows:
Factorize p out on the right side.
V = p(1 + rt)
Divide each side b (1 + rt).
Answer:
V = p + prt
where
p = principal, dollars
r = annual interest rate (in decimal form)
t = time, years
To determine p, write the formula as follows:
Factorize p out on the right side.
V = p(1 + rt)
Divide each side b (1 + rt).
Answer: