Use estimation to select the best response in Problems 5-14. Do not calculate. If (I=P r t)
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Use estimation to select the best response in Problems 5-14. Do not calculate.
If \(I=P r t\) and \(I=\$ 398.90, r=1.05 \%\), and \(t=1\) year, estimate \(P\).
A. \(\$ 400\)
B. \(\$ 40\)
C. \(\$ 40,000\)
D. \(\$ 4,000\)
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The formula for calculating interest is I P r t We need to roughly estimate P given that ...View the full answer
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