Question
Ali invested his savings of $1,850 in a savings account that was earning simple interest at 2.23% p.a. He also invested $2,575 in his friend's
Ali invested his savings of $1,850 in a savings account that was earning simple interest at 2.23% p.a. He also invested $2,575 in his friend's business at 0.24% p.m.
a.What is the interest rate per month that is equivalent to 2.23% p.a.?
%Round to two decimal places
b.What was the total interest earned from both investments at the end of 6 months?
Round to the nearest cent
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The Legal Environment Today Summarized Case Edition
Authors: Roger LeRoy Miller
8th Edition
130526276X, 978-1305279407, 1305279409, 978-1305704930, 1305704932, 978-1305262768
