benhaley1020 benhaley1020

20-06-2024
Mathematics

Answered

Marie borrows $2000 at 4% simple interest for 17 months. What formula should you use to calculate the amount should pay back?
a. SI = P(1 + rt)
b. CI = P(1 + r/m)mt
c. FV = PMT((1 + r/m)mt - 1) (r/m)
d. PV = PMT(1 - (1 + r/m) - mt) (r/m)

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