I'll setup the problem and you can do the computation
Step-by-step explanation:
The formula for simple interest future value or balance:
FV = P - (P*r*t) = P(1-rt)
FV = balance
P = beginning balance (or present value)
r = interest rate per period (period = year)
t = number of periods
P = 1200
r = 0.91
t = 6
If you have questions, send me a comment
