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A $1,000 bond pays 4 % per year simple interest for 6 years.What is the total amount paid, including interest and principal at the end

  1. A $1,000 bond pays 4 % per year simple interest for 6 years.What is the total amount paid, including interest and principal at the end of the 6 years?
  2. You are going to lend $3,000.You want to get back $4,000 in 5 years.What simple interest rate should you charge so that repayment of the principal and interest equals $4,000?

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