Find the present value of $ 3,000 at a simple interest rate of 6 % in 9 years ?
2 answers:
Answer:
using the simple interest rate Formula, I = prt.
given 3,000 as the principle,
6% as the rate, and 9 years as the time
I = (3000)(6%)(9)
I = (27000)(6%)
I = (27000)(0.06)
I = 1620$
Present value = I + p
present value = 1620$ + 3000$
present value = 4620$
Answer:
Is it anual intrest rate? if so then it would be 1620$ inrest rate and if it was 6% in 9 years it would be 180$ interest rate
Step-by-step explanation:
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