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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 = $8000.00, r = 10.5%, t = 9 months
$
(Round up to the nearest cent as needed.)

Respuesta :

Alfpfeu

Answer:

$7,415.99

Step-by-step explanation:

Hello, please consider the following.

[tex]P\cdot (1+\dfrac{10.5\%\cdot 9}{12})=A = 8000 \\\\P = \dfrac{8000}{(1+\dfrac{31.5}{400})}=\dfrac{8000}{1.07875}\\\\=7415.990730...[/tex]

So it gives $7,415.99

Thank you.