Use the Simple Interest Formula to Determine the Missing Value

question 65

Multiple Choice

Use the simple interest formula to determine the missing value. Round dollar amounts to the nearest cent and percents to the nearest hundredth when necessary
-p = $12,403, r = 3.5%, t = ?, i = $2170.53

• A) t = 7 years
• B) t = 5 years
• C) t = 6 years
• D) t = 4 years

Understand the causes and initial actions of the Civil War, including the secession of southern states and the attack on Fort Sumter.

Understand the concept of price elasticity of demand and its effects on revenue and employment.

Grasp the role of supply and demand in determining market equilibrium price and quantity.

Identify how changes in income affect demand for normal, inferior, and luxury goods.

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