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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 344
LENGTH OF AN INVESTMENT A principal ( P ) of $3500 invested in stocks over an unknown amount of time ( T ) at 9.5% (R = 0.095) yields $748.13 in interest ( I ). Use I = PRT to find the time rounded to the nearest hundredth of a year.
Explanation
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Given, an amount of $3500 at 9.5% p.a. g...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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