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OpenStudy (anonymous):
Determine the present value P you must invest to have the future value A at simple interest rate r after time t. Round to the nearest cent. A = $7,500, r = 9.5%, t = 2 years
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OpenStudy (saifoo.khan):
I = PRT
OpenStudy (anonymous):
I got 375. Is this correct?
OpenStudy (saifoo.khan):
what's A?
OpenStudy (anonymous):
7,500 = A
OpenStudy (saifoo.khan):
lol, i mean what is the full form of A? is t intrest?
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OpenStudy (anonymous):
T is time.
OpenStudy (lilg132):
it is the amount of money you will have in the future after interest
OpenStudy (espex):
I=PRT is for simple interest but A=P(1-In) is simple interest with future value.
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