The principal P is borrowed at a simple interest rate r for a period of time t. Find the loan's future value A, or the total a

Question

3 years ago

5

mount due at time t. Round answers to the nearest cent. P=$2000, r=%6, T=6 years

1 answer:

vladimir2022 [97] · Answer 1 · 2022-04-14T23:45:23+03:00

7 0

Answer:

$2720

Step-by-step explanation:

Given data

Principal=$2000

r= %6

T= 6 years

The expression for the final amount is

A= P(1+rt)

A=2000(1+0.06*6)

A=2000(1+0.36)

A=2000*1.36

A=2720

Hence the amount is $2720

The principal P is borrowed at a simple interest rate r for a period of time t. Find the​ loan's future value​ A, or the total a