OpenStax, Contemporary Mathematics §6.3 Simple Interest · Example 11 · Arithmetic · Money & interest

Simple Interest · Example 11

Compute the present value of the investment described. Interpret the result.

(a) $F V$ = $10,000, $t$ = 15 years, annual simple interest rate of 5.5%
(b) $F V$ = $150,000, $t$ = 20 years, annual simple interest rate of 6.25%
(c) $F V$ = $250,000, $t$ = 486 months, annual simple interest rate of 4.75%

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OpenStax, Contemporary Mathematics · §6.3 Simple Interest · Example 11

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