Answer
A = 8500
r = 7%
t = 3
Work Step by Step
A = P(1+rt)
P = A/(1+rt)
P = 8500/(1+.07×3)
= 8500/1.21
= 7024.79
Thinking Mathematically (6th Edition)
by Blitzer, Robert F.
Published by
Pearson
ISBN 10:
0321867327
ISBN 13:
978-0-32186-732-2
Chapter 8 - Personal Finance - 8.3 Simple Interest - Exercise Set 8.3 - Page 512: 22
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