$25,000 is invested for 9 months at an annual simple interest rate of 2%. (a) How much interest will be earned? $ (b) What is the future value of the investment after 9 months? $

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter13: Sequences And Series
Section13.4: Mathematics Of Finance
Problem 21E
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$25,000 is invested for 9 months at an annual simple interest rate of 2%.
(a) How much interest will be earned?
$
(b) What is the future value of the investment after 9 months?
$
Transcribed Image Text:$25,000 is invested for 9 months at an annual simple interest rate of 2%. (a) How much interest will be earned? $ (b) What is the future value of the investment after 9 months? $
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