Equivalent Payments

Divide+Inside

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if 2,175 was invested 27 months ago at a simple interest rate of 3.9%, what would be the value of the investment 9 months from now. Round your answer to 2 decimal places. (2,429.48)

S=P(1+rt)
P=S/(1+rt)
 
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Subhotosh Khan

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if 2,175 was invested 27 months ago at a simple interest rate of 3.9%, what would be the value of the investment 9 months from now. Round your answer to 2 decimal places. (2,429.48)
Please state the formula for "future value" applying simple interest formula. Please define all the para meters of the formula.

Please show us what you have tried and exactly where you are stuck.

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Please share your work/thoughts about this problem.
 
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