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What is the interest rate per month that is equivalent

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Question - Helen invested her savings of $1,250 in a savings account that was earning simple interest at 3.63% p.a. She also invested $3,475 in her friend's business at 0.20% p.m.

a. What is the interest rate per month that is equivalent to 3.63% p.a.?

b. What was the total interest earned from both investments at the end of 9 months?

Reference no: EM132600550

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