Solved

Use the Simple Interest Formula to Determine the Missing Value

Question 65

Multiple Choice

Use the simple interest formula to determine the missing value. Round dollar amounts to the nearest cent and percents to the nearest hundredth when necessary
-p = $12,403, r = 3.5%, t = ?, i = $2170.53


A) t = 7 years
B) t = 5 years
C) t = 6 years
D) t = 4 years

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q60: A partial payment is made on

Q61: Solve the problem<br>-A particular car gets fuel

Q62: Solve the problem. Where appropriate, round to

Q63: Write as a percent.<br>-0.078<br>A) 78%<br>B) 0.0078%<br>C) 7.8%<br>D)

Q64: Find the simple interest. (The rate is

Q66: Write as a percent.<br>-0.00403<br>A) 0.2015%<br>B) 0.0403%<br>C) 0.403%<br>D)

Q67: Use the present value formula to determine

Q69: Solve the problem.<br>-On the September 15

Q70: Solve the problem<br>-Jaredʹs car normally gets fuel

Q88: A borrower uses an income tax refund