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OpenStudy (anonymous):
Is my answer correct? A bank offers a CD that pays simple interest rate of 8.5%. How much must you put in this CD now in order to have $1500 for a home-entertainment center in 2 years. My answer is 1266.26 is this correct?
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hero (hero):
I = PRT I = 1500(.085)(2) = 255 1500 - 255 = ?
ganeshie8 (ganeshie8):
i am getting 1282.05 1500 = P + P(.085)(2)
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