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$20,000 is invested for 3 months at an annual simple interest rate of 3%. (a) How much interest is earned? (b) What will be the

$20,000 is invested for 3 months at an annual simple interest rate of 3%.

(a) How much interest is earned?

(b) What will be the future value of the investment in 3 months?

If you borrow $600 for 6 months at 6% annual simple interest, how much must you repay at the end of the 6 months?

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