Interest : 40principal: xrate: 1.66%time : 4

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Mike Thrussell asked May 28, 2023

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Interest : 40principal: xrate: 1.66%time : 4

Mathematics
college

Mike Thrussell asked May 28, 2023

by Mike Thrussell

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The simple interest is given by:

Where:

PV = Present value or principal

I = Interest

r = rate

t = time

Solve for PV:

$\begin{gathered} PV=(I)/(rt) \\ so\colon \\ PV=(40)/(0.0166\cdot4) \\ PV=602.4 \end{gathered}$

Answer:

$602.4

Arvind Maurya answered Jun 3, 2023

by Arvind Maurya

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