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natulia [17]
4 years ago
13

Determine the present value, P, you must invest to have the future value, A, at simple interest rate r after time t. Round answe

r to the nearest dollar.
A = $196.00
r = 10%
t = 4 years
Mathematics
1 answer:
abruzzese [7]4 years ago
8 0
\bf \qquad \textit{Simple Interest Earned Amount}\\\\
A=P(1+rt)\qquad 
\begin{cases}
A=\textit{accumulated amount}\to &\$196\\
P=\textit{original amount deposited}\\
r=rate\to 10\%\to \frac{10}{100}\to &0.010\\
t=years\to &4
\end{cases}

solve for P
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