Math Problem Statement
Determine the present value P that must be invested to have the future value A at simple interest rate r after time t.
A =
$6000,
r =
3.5,
t =
5
years
Solution
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Math Problem Analysis
Mathematical Concepts
Simple Interest
Algebra
Formulas
A = P(1 + rt)
P = A / (1 + rt)
Theorems
-
Suitable Grade Level
Grades 9-12
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