Answer:
$6534.42
Step-by-step explanation:
Put the given values into the simple interest formula and solve for the remaining variable.
A = P(1 +rt)
where P is the principal invested, r is the annual rate, and t is the number of years.
$7000 = P(1 +0.095(9/12)) = 1.07125P
$7000/1.07125 = P ≈ $6534.42
The value that must be invested is $6534.42.
All real numbers because a<9 or a>8
You do not make any sense. can you restate your question please
R=i/pt
i=16731.12-16100=631.12
R=631.12/16,100×1
R=0.0392*100=3.92%
