Question

Find p if t=6 years , r=12% and I=$240

Answer 1

the future value would be 473.72 if p is referring to future value

if p is referring to present value it is 121.59

if p is referring to payment it is 58.37

Explanation:

you can use spreadsheets to solve this equation using =pmt/=fv/=pv

Answer 2

Explanation:

`s .i = (prt)/(100)`

`240 = p * (12)/(100) * 6`

`240 = (18)/(25) p`

`240 / (18)/(25) = p`

`p = 333.3333`