The principal P is borrowed at a simple interest rate r for a period of time t. Find the​ loan’s future value​ A, or the total amount due at

Question

The principal P is borrowed at a simple interest rate r for a period of time t. Find the​ loan’s future value​ A, or the total amount due at time t. Round answers to the nearest cent. P=$2000, r=%6, T=6 years

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Calantha 2 months 2021-07-30T06:22:57+00:00 1 Answers 2 views 0

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    2021-07-30T06:24:16+00:00

    Answer:

    $2720

    Step-by-step explanation:

    Given data

    Principal=$2000

    r= %6

    T= 6 years

    The expression for the final amount is

    A= P(1+rt)

    A=2000(1+0.06*6)

    A=2000(1+0.36)

    A=2000*1.36

    A=2720

    Hence the amount is $2720

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