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Asked Oct 31, 2019
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Find the maturity value and the amount of simple interest earned. Round to the nearest cent.
2) $5482 at 4.6% for 9 months
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Find the maturity value and the amount of simple interest earned. Round to the nearest cent. 2) $5482 at 4.6% for 9 months

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Expert Answer

Step 1

Recall the follow...

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Maturity value P(1+RN Simple interest = PNR where P is the principal amount N is the number of years R is the rate of interest

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