Tuition of $
2700
is due when the spring term begins, in
9
months.
What amount should a student deposit today,
at
11
%,
to have enough to pay tuition?

Respuesta :

so hmmm bear in mind that, 9months from 12 months in a year, is 9/12 years, or 3/4

[tex]\bf \qquad \textit{Simple Interest Earned Amount}\\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\to &\$2700\\ P=\textit{original amount deposited}\\ r=rate\to 11\%\to \frac{11}{100}\to &0.11\\ t=years\to \frac{9}{12}\to &\frac{3}{4} \end{cases} \\\\\\ 2700=P\left(1+0.11\cdot \frac{3}{4} \right)[/tex]

solve for P
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