1. Time Interval Determine the amount of time required for money to double at 2% simple interest....
Question:
2. Interest Rate Derive the formula for the (simple) interest rate r at which P dollars grow to F dollars in n years. That is, express r in terms of P, F, and n.
3. Present Value Derive the formula for the present value P of F dollars in n years at simple interest rate r.
4. Time Interval Derive the formula for the number of years n required for P dollars to grow to F dollars at simple interest rate r?
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1 1n 002P 2P n 50 ...View the full answer
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Related Book For 
Finite Mathematics and Its Applications
ISBN: 978-0134768632
12th edition
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair
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