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How much do owe excluding penalties

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Problem 1: A S10, 000 Treasury Bill earned 16% compounded monthly. If the bill matured in 2 years, what was it worth at maturity?

Problem 2: You borrow S25000 at 12.25% interest compounded monthly. If you are unable to make any payments the first year, how much do you owe, excluding penalties?

Reference no: EM132736252

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