Question: 1.)Find the present amount needed to attain a future amount of F dollars in the given time usin an annual simple interest rate of r.

1.)Find the present amount needed to attain a future amount of F dollars in the given time usin an annual simple interest rate of r.

F= $7900, r=2.6%, 2 years

2.) a principal of $6000 earns 5% per year simple interest. How long will it take for the future value to become $6870 (round your answer to two decimals)

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