Mathematics, 19.01.2021 20:30 lillielupfer6955
A specific type of financial instrument pays 15% simple interest (based on the purchase value) and lasts for 1.5 years. The instrument can be bought at any price. An investor purchases the instrument for P0, and has calculated that the total value of the investment (i. e. P0 plus interest earned) will be $4,000 at maturity. Calculate P0, giving your answer to the nearest dollar. Give your answer in dollars to the nearest dollar. Do not include the dollar symbol or commas in your answer.
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A specific type of financial instrument pays 15% simple interest (based on the purchase value) and l...
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