Mathematics, 09.10.2019 06:00 keshaayro8566
The formula for the future value v (in dollars) of an investment earning simple interest is v=p+prt, where p (in dollars) is the principal, r is the annual interest rate (in decimal form) and tt is the time (in years).
a. solve the formula for p.
p=
b. an investment earns 8% simple interest. what amount of principal is needed to have $6000 after 7 years? round your answer to the nearest cent.
amount of principal: $
Answers: 3
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The formula for the future value v (in dollars) of an investment earning simple interest is v=p+prt,...
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