Question

Use the formula for the amount, A = P(1 + rt), to find the indicated quantity - P = 54,300; r = 4%, t = 60 days; A = ? A = $54,300(1 + 0.04 * 60) A = $54,300(1 + 2.4) A = $54,300(3.4) A = $184,620

Name: use the formula for the amount ap1 rt to find the indicated quantity p54300r 4 t 60 days a as round to the nearest cent as needed 63104
Uploaded: 2023-06-20T06:41:48-08:00
Duration: 1 min 14 s
Channel: Pritesh Ranjan
Description: use the formula for the amount ap1 rt to find the indicated quantity p54300r 4 t 60 days a as round to the nearest cent as needed 63104

          Use the formula for the amount, A = P(1 + rt), to find the indicated quantity - 
P = 54,300; r = 4%, t = 60 days; A = ?
A = $54,300(1 + 0.04 * 60) 
A = $54,300(1 + 2.4) 
A = $54,300(3.4) 
A = $184,620

Added by Xavier S.

Elementary Statistics a Step by Step Approach

Allan G. Bluman 9th Edition

Instant Answer

Solved by Expert Pritesh Ranjan

06/20/2023

Step 1

There are 365 days in a year, so: t = 60/365 = 0.1644 years Show more…

Show all steps

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Use the formula for the amount, A = P(1 + rt), to find the indicated quantity - P = 54,300; r = 4%, t = 60 days; A = ? A = $54,300(1 + 0.04 * 60) A = $54,300(1 + 2.4) A = $54,300(3.4) A = $184,620