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If the principal P = $500, the interest I = $250, and the rate r = 10%, find the following.

(a) What is the time?
1 years

(b) What is the future value?
$ 2

2 answers

I = Po*r*t = $250.
500*0.1t = 250.
S0lve for t

b. V = Po + I = 500 + 250 = $750.

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