Question

If the principal P = $900, the interest I = $702, and time t = 6 years, find the following.
(a) What is the rate?
45.5 . %

(b) What is the future value?

Answer 1

the rate is not 45.5 thats a typo

Answer 2

i=prt
but my answers keep coming up wrong

Answer 3

is it compounding or simple interest

Answer 4

ok so it is simple interest

Answer 5

702=900*r*6

Answer 6

\[\large{Interest = Principal\times{rate}\times{time}}\]
let us assume rate of interest is r
\[\large{$702 = $900\times{r}\times{6}}\]
now solve for r

Answer 7

702=5400r

Answer 8

702/5400

Answer 9

0.13

Answer 10

?

Answer 11

yes you are right

Answer 12

what about the future value

Answer 13

Future value means total amount you will be having after 6 years

Answer 14

a=p+i

Answer 15

yes

Answer 16

0.13=900+702

Answer 17

no just \[\large{{Amount}= Principal + Interest Earned}\]

Answer 18

oic lol been studying to long 900 + 702

Answer 19

thanks so much 1702

Answer 20

no it is not correct

Answer 21

add properly