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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 = $10,000, A = $14,060, t = 2 years
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OpenStudy (anonymous):
So confused, please help!
OpenStudy (anonymous):
I got 12,180 but I am pretty sure that's wrong.
hero (hero):
A = P(1+rt) 14,060 = 10,000(1+2r) 14,060/10,000 = 1 + 2r ((14,060/10000)-1)/2 = r
OpenStudy (anonymous):
oh my gosh, thank you! I appreciate you taking a look at my problem!
OpenStudy (anonymous):
Can you take a look at another for me, please?
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OpenStudy (anonymous):
I'll post it.
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