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Determine how long it takes for an investment

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Reference no: EM133103029

Question - The questions are related to simple interest and compound interest.

Determine how long it takes for an investment of RM7000 at 7% per annum on simple interest earns as much interest as on investment  of RM7000 at 6% compounded annually 10 years.

A sum of money lent out at simple interest amounts to RM1008 in 2 years and RM1164 in 3 1/2 years. Find the rate % p.a.

Find the simple interest of RM 10,000 at a certain rate if the compound interest on the same amount for 3 years is RM 759.38.

Reference no: EM133103029

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