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How much interest will you expect to get per month

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Reference no: EM133186947

a) You loan $4,750 to your best friend. He is supposed to give you Interest only for the loan. The rate of Simple Interest is 10% per annum. How much Interest do get per month?

b) Instead, you decide to loan $3,750 at 12% per annum. How much Interest will you expect to get per month?

Reference no: EM133186947

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