Mathematics, 11.08.2021 04:20 kylahwells
A financial instrument pays 8% simple interest (based on the purchase value) and matures after 3 years. The instrument
can be purchased at any price.
An investor purchases the instrument for P dollars, and calculated that the total value of the investment (i. e. P plus interest
earned) will be $2,000 at maturity. Calculate P.
Round your answer to the nearest cent.
DO NOT round until you have calculated your final answer.
Answers: 2
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A financial instrument pays 8% simple interest (based on the purchase value) and matures after 3 yea...
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