in the formula for calculating present value,the letter r represents the___.

In the formula for calculating present value the letter r represents the rate of interest.

s

grefaldiomarites|Points 262|

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Asked 1/22/2014 6:00:31 PM

Updated 1/22/2014 6:40:39 PM

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Confirmed by debnjerry [1/22/2014 6:40:39 PM]

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a promissory note can best be described as___. **Weegy:** A promissory note can be best described as a IOU.
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Asked 1/23/2014 7:23:57 PM

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Miguel borrowed $1,800 for 2years and ended up paying $180 in simple interest .what was the interest rate?

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Updated 1/22/2014 7:02:09 PM

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Miguel borrowed $1,800 for 2 years and ended up paying $180 in simple interest. The interest rate was 5%.

I=Prt

180=1800*r*2

180=3600*r

r=180/3600

r=0.05 or 5 %

I=Prt

180=1800*r*2

180=3600*r

r=180/3600

r=0.05 or 5 %

Added 1/22/2014 7:02:09 PM

This answer has been confirmed as correct and helpful.

a 1-year loan at 6% ended up costing $144 in simple interest.how much money was borrowed a.$1,400 b.$1,800 c.$2,200 d.$2,400 **Weegy:** I=Prt; 144=P*.06; P=144/.06; P=2,400. The amount that she borrowed is d. $2,400. (More)

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Updated 1/22/2014 7:05:08 PM

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