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The principal P is borrowed at a simple interest rate r for a period of time t. Find the loan's future value A, or the

The principal P is borrowed at a simple interest rate r for a period of time t. Find the loan's future value A, or the total amount due at time t.

P=$1000, r = 5.0%, t= 3 months

The loan's future value is $ 52,275

(Do not round until the final answer. Then round to the nearest cent as needed.)

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