Concern simple interest. 1. Simple Interest Determine r, n, P, and F for each of the following
Question:
1. Simple Interest Determine r, n, P, and F for each of the following situations:
(a) $500 invested at 1.5% simple interest grows to $503.75 in 6 months.
(b) In order to have $525 after 2 years at 2.5% simple interest, $500 must be invested.
2. Simple Interest Determine r, n, P, and F for each of the following situations:
(a) At 3% simple interest, $1000 deposited on January 1, 2017, was worth $1015 on June 1, 2017.
(b) At 4% simple interest, in order to have $3600 in 5 years, $3000 must be deposited now?
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1 a r 0015 P 500 F 5037...View the full answer
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Related Book For 
Finite Mathematics and Its Applications
ISBN: 978-0134768632
12th edition
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair
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