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Find the maturity value of a note dated april

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Reference no: EM132841243

Problem 1: The Fast Funds Finance Company charges customers 15% interest on loans.

a. How much interest would they collect on a loan of $2,500 for 9 months?

b. How much would the customer repay on the due date?

Problem 2: Find the maturity value of a note dated April 20 if it bears interest at 9% and matures on June 25. The face value is $2,240.

Reference no: EM132841243

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