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OpenStudy (anonymous):
The principal P is borrowed and the loan's future value, A, at time t is given. Determine the loan's simple interest rate, r, to the nearest tenth of a percent. P = $4,600.00, A = $4,824.25, t = 9 months
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OpenStudy (anonymous):
divide $224.25 by 9 and that will be ur monthly interest rate i think
OpenStudy (anonymous):
Thanks! Can I ask though, how did you get 224.25?
OpenStudy (anonymous):
A-P
OpenStudy (anonymous):
oh, thank you!
OpenStudy (anonymous):
np :)
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OpenStudy (anonymous):
can u answer my question?
OpenStudy (anonymous):
I'll try!
OpenStudy (anonymous):
Which one?
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