cocodog874
Answered

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what is the balance of 1200 at 9.1& simple interest for 6 years

Sagot :

dzharvey00

I'll setup the problem and you can do the computation 

Step-by-step explanation:

The formula for simple interest future value or balance:

FV = P - (P*r*t) = P(1-rt)

FV = balance

P = beginning balance (or present value)

r = interest rate per period (period = year)

t = number of periods

P = 1200

r = 0.91

t = 6

If you have questions, send me a comment 

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