Homework Help: finance

Posted by stacy on Tuesday, October 30, 2012 at 5:02pm.

If the principal P=800, the interest I= 384, and time t = 6 years, find the following: What is the rate?
What is the future value?

finance - Ms. Sue, Tuesday, October 30, 2012 at 5:06pm
I = PRT

384 = 800 * R * 6

384/4800 = R

0.08 = 8% = R

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