2. If you have $9,725.10 in a bank certificate which is paying 4.75% simple inte

Question

2. If you have $9,725.10 in a bank certificate which is paying 4.75% simple interest, how long will it be before this account is worth $10,000?


3. Second Law Venture Capital loaned Thane Magnomotor Corp $26,750,000 for 11 months. The maturity value of the note was $30,000,000. Determine the simple interest rate for this loan.



On August 15, 2009 I signed a 725 day promissory note. When will (or did) the note mature?


Tamara deposited $2,650.49 in a CD paying 3.87% simple interest on January 28, 2008. The CD matured on November 11, 2008. Interest was calculated using bankers rule. What was the maturity value of this CD?

Explanation / Answer

10000-9725 = 9725*T*4.75/100 275*100/9725/4.75 = .59YEARS Answer

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