Determine the present value P that must be invested to have the future value A at simple interest rate r after time t.   A​ = ​$4000​, r​ = 7​%, t​ = 5 years

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 2E
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Determine the present value P that must be invested to have the future value A at simple interest rate r after time t.
 
A​ = ​$4000​, r​ = 7​%, t​ = 5 years
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