Question

Please help!!! the principal P is borrowed at simple interest rate for a period of time t. Find the loans future value, A or the total amount and round answer to nearest cent. P= $5900, r=4.5%, t=22 months
a) 6386.75
b) 11,741.00
c) 6391.75
d) 6431.00

Answer 1

Answer:

Step-by-step explanation:

$A=P(1+rt)\\ \\ P=\ 5900,\ r=0.045,\ t=22/12\\ \\ A=5900(1+0.045(22/12))\\ \\ A=\ 6386.75$