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Calculate the maturity value of a simple interest

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Reference no: EM132675727

1. You deposit $3209 in a bank account that earns 2.1% interest. How much interest will you earn in one year?

2. You borrow $200 from your brother with the understanding you will pay him 7% monthly interest. If you have no payments, how much will you owe him after six months?

3. You deposit $400 in an account that earns 1.34% simple interest. How much interest will you have earned after five months?

4. Determine the amount you owe on an $800 cell phone bill if you pay it three months late, and the company charges 13% monthly simple interest.

5. A $4,000 investment is worth $4184 after two years. Find the simple annual interest rate.

6. Calculate the maturity value of a simple interest 10- month loan $6600 if the interest rate is 1.75%.

Reference no: EM132675727

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