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Author Question: Lonnie needs extra money to buy a truck to start up a delivery service. He takes out a simple ... (Read 219 times)

saliriagwu

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Question 1

Determine the present value, P, you must invest to have the future value, A, at simple interest rate r after time t. Round answer to the nearest dollar.

A = $9053.50, r = 13.5%, t = 17 months
◦ $7676
◦ $7605
◦ $7617
◦ $7600

Question 2

Lonnie needs extra money to buy a truck to start up a delivery service. He takes out a simple interest loan for for 7 months at a rate of 7.25% . How much interest must he pay, and what is the future value of the loan?
◦ interest: $253.75 ; future value: $6253.75
◦ interest: $3045.00 ; future value: $9045.00
◦ interest: $253.75 ; future value: $6266.75
◦ interest: $276.82 ; future value: $6276.82


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Marked as best answer by saliriagwu on Feb 2, 2020

Cnarkel

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saliriagwu

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Reply 2 on: Feb 2, 2020
Excellent


T4T

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Reply 3 on: Yesterday
Wow, this really help

 

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