The first national bank has agreed to lend you $30,000 today, but you must repay $42,135 in 3 years. what rate is the bank is charging you

To compute for the rate for the year, the formula that we will be using would be the r = I / Pt.

Where:

r = interest rate

I = interest; to solve for the interest, we know that our principal value is $30,000 and our future value is $42,135, just deduct the $30,000 from there, and you can get the interest. $42,135 – $30,000 = $12,135

P = principal = $30,000

t = time = 3 years

r = 12,135 / (30,000) (3)

r = 12,135 / 90,000

r = 0.1348 or 13.48%

to check, use the I = Prt then just add the Principal to get the future value

I = Prt

= 30,000 * 0.1348 * 3

= 12,135

Future value = P + I

= 30,000 + 12,135

= 42, 135

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

                                          hope it

answer; because many corporate watch groups will discover and publicize unethical behavior by suppliers, link it to the american company, and harm its reputation;