If a present value (P) is invested at the simple interest rate (r) for (t) years, then

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If a present value $P$ is invested at the simple interest rate $r$ for $t$ years, then the future value after $t$ years is given by the formula $A=P(1+r t)$. Suppose you invest $\$ 10,000$ at $8 \%$ simple interest per year.

a. Graph the amount you will have in $t$ years.

b. What is the slope of the graph?

c. What is the $A$-intercept of the graph?

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Nature Of Mathematics

ISBN: 9781133947257

13th Edition

Authors: Karl J. Smith

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Question Posted: Jan 31, 2024 03:06 AM

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If a present value (P) is invested at the simple interest rate (r) for (t) years, then

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Nature Of Mathematics

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