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 2 years ago
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?
 2 years ago
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?

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Shannon_r83
 2 years ago
Best ResponseYou've already chosen the best response.1the rate is not 45.5 thats a typo

Shannon_r83
 2 years ago
Best ResponseYou've already chosen the best response.1i=prt but my answers keep coming up wrong

sheg
 2 years ago
Best ResponseYou've already chosen the best response.0is it compounding or simple interest

sheg
 2 years ago
Best ResponseYou've already chosen the best response.0ok so it is simple interest

sheg
 2 years ago
Best ResponseYou've already chosen the best response.0\[\large{Interest = Principal\times{rate}\times{time}}\] let us assume rate of interest is r \[\large{$702 = $900\times{r}\times{6}}\] now solve for r

Shannon_r83
 2 years ago
Best ResponseYou've already chosen the best response.1what about the future value

sheg
 2 years ago
Best ResponseYou've already chosen the best response.0Future value means total amount you will be having after 6 years

sheg
 2 years ago
Best ResponseYou've already chosen the best response.0no just \[\large{{Amount}= Principal + Interest Earned}\]

Shannon_r83
 2 years ago
Best ResponseYou've already chosen the best response.1oic lol been studying to long 900 + 702

Shannon_r83
 2 years ago
Best ResponseYou've already chosen the best response.1thanks so much 1702
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