1. If $8000 is borrowed at 12% simple interest for 3 years, what is the future value...
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1. If $8000 is borrowed at 12% simple interest for 3 years, what is the future value of the loan at the end of the 3 years?
2. Mary Toy borrowed $2000 from her parents and repaid them $2100 after 9 months. What simple interest rate did she pay?
Future ValueFuture value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...
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Related Book For 
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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