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1) money in an account earns 7% simple interest per year. what is the effective rate of interest for the time interval [3,4]? 2)A fund

1) money in an account earns 7% simple interest per year. what is the effective rate of interest for the time interval [3,4]?

2)A fund earns simple interest at the rate of 5% per year. In whhich year does the fund earn exactly 4% effective?

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