anonymous
  • anonymous
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?
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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chestercat
  • chestercat
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anonymous
  • anonymous
the rate is not 45.5 thats a typo
anonymous
  • anonymous
i=prt but my answers keep coming up wrong
anonymous
  • anonymous
is it compounding or simple interest

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More answers

anonymous
  • anonymous
ok so it is simple interest
anonymous
  • anonymous
702=900*r*6
anonymous
  • anonymous
\[\large{Interest = Principal\times{rate}\times{time}}\] let us assume rate of interest is r \[\large{$702 = $900\times{r}\times{6}}\] now solve for r
anonymous
  • anonymous
702=5400r
anonymous
  • anonymous
702/5400
anonymous
  • anonymous
0.13
anonymous
  • anonymous
?
anonymous
  • anonymous
yes you are right
anonymous
  • anonymous
what about the future value
anonymous
  • anonymous
Future value means total amount you will be having after 6 years
anonymous
  • anonymous
a=p+i
anonymous
  • anonymous
yes
anonymous
  • anonymous
0.13=900+702
anonymous
  • anonymous
no just \[\large{{Amount}= Principal + Interest Earned}\]
anonymous
  • anonymous
oic lol been studying to long 900 + 702
anonymous
  • anonymous
thanks so much 1702
anonymous
  • anonymous
no it is not correct
anonymous
  • anonymous
add properly

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