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) = $10,000, = 15 years, annual simple interest rate of 5.5%
(b) = $150,000, = 20 years, annual simple interest rate of 6.25%
(c) = $250,000, = 486 months, annual simple interest rate of 4.75%
OpenStax, Contemporary Mathematics · §6.3 Simple Interest · Example 11
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