$25,000 is invested for 3 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 3 months? $

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.2: Exponential Functions
Problem 50E
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$25,000 is invested for 3 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 3 months?
 
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