Question
40. Simple Interest Determine r, n, P, and F for each of the fol- lowing situations: (a) At 3% simple interest, $1000 deposited on
40. Simple Interest Determine r, n, P, and F for each of the fol- lowing 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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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
4th edition
978-0073369709, 73369705, 78025370, 978-0077444846, 77444841, 978-0078025372
