Determine the present value P you must invest to have the future value A at simple interest rate r after time t. Assume there are 52 weeks in a year and round to the next cent.

A = $5,000.00, r = 9.0%, t = 39 weeks

A=P(1+rt)

Question

Determine the present value P you must invest to have the future value A at simple interest rate r after time t. Assume there are 52 weeks in a year and round to the next cent.

A = $5,000.00, r = 9.0%, t = 39 weeks

A=P(1+rt)

anonymous · Answer

P = P/ ( 1 +  r * t )

Can you plug the number into your calculator?

anonymous · Answer

yeah I can. Basically i didn't know how to convert 39 weeks into T

anonymous · Answer

t = 39/ 52 = 3/4

anonymous · Answer

thanks! For some reason I was getting .82

anonymous · Answer

Divide by 13!

anonymous · Answer

So you're fine from here ?

anonymous · Answer

I think so. Here's my formula 

5,000= P(1+9*.75)

anonymous · Answer

lol you've come to my rescue again!

anonymous · Answer

sh*t I did that wrong.

anonymous · Answer

it was supposed to be .09 not 9

anonymous · Answer

yep, I'm just paying attention to your formula , forget the number:

anonymous · Answer

P = $ 4,683.84

anonymous · Answer

Are you okie now?

anonymous · Answer

yeah...well I didn't pass my test, so I have to redue it. :( will college ever end!

anonymous · Answer

When did you have the test? what test is it?

anonymous · Answer

I'm taking it online. It's an online math course

anonymous · Answer

I'm sorry that you didn't pass, however, frankly you should invest more effort into your study!

anonymous · Answer

lol as much as I agree with you. and I do. Working 40 hours and having to clean a house, take care of a dog,finding a big girl job, working out...well It takes up a lot of time. I basically have from 9 to 1am to study, and do h/w.

anonymous · Answer

If so, that's totally understandable! How could you survive with full time job and college work load? 
What do you mean "finding a big girl job" ?

anonymous · Answer

it's a term I use for a grown up job, like a not minimum wage- career starting job. haha, idk. So needless to say applications take time, but I don't really have a choice but to work full time in a not big girl job to pay for bills, school, etc!

anonymous · Answer

You're so brave! I just volunteer in weekend and I'm already out of breath!

anonymous · Answer

Anyway, just message me whenever you need help :)

anonymous · Answer

haha thanks for your help! I will be in desperate need of any help between now and Wednesday.

anonymous · Answer

All you do is just post them up :)

anonymous · Answer

lol i try to figure the ones i can out :) i'm not a complete slacker! haha