A bank offers a CD that pays a simple interest rate of 10.5 %. How much must you put in this CD now in order to have $1500 for a home-entertainment center in 5 years. Question content area bottom Part 1 The present value that must be invested to get $1500 after 5 years at an interest rate of 10.5 % is $enter your response here . (Round up to the nearest cent.)

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To solve this problem we need to use the simple interest formula A P1 rt Where A Future value ... View the full answer