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    Mathematics
  3. Study Set
    Mathematics of Finance
  4. Exam
    Exam 1: Simple Interest and Simple Discount
  5. Question
    You Invest $8000 in a Fund Earning Simple Interest at R
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You Invest $8000 in a Fund Earning Simple Interest at R

Question 1

Question 1

Multiple Choice

You invest $8000 in a fund earning simple interest at r = 4% for the first 150 days followed by r = 6% for the last 120 days.How much do you have in your fund at the end of 270 days?


A) $8291.91
B) $8289.32
C) $8287.24
D) $8284.72

Correct Answer:

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