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    present value of money

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    Determine the present value P you must invest to have the future value A at simple interest rate r after time t.
    A=$8000.00 r=11.5% t=6months.
    Round this to the nearest cent

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    Solution Preview

    The simple interest earned over a period of time t is
    I = P * r * t, where t is ...

    Solution Summary

    The solution shows how to calculate the present value of money using simple interest rate.