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Bill Casler bought a $ 9 0 0 0 , 9 - month certificate of deposit ( CD ) that would earn 8 % annual
Bill Casler bought a $month certificate of deposit CD that would earn annual simple interest.
a What is the value of the when it matures?
$
b Three months before the CD was due to mature, Bill needed his CD money, so a friend agreed to lend him money and receive the value of the CD when it maturec If their agreement allowed the friend to earn a annual simple interest return on his loan to Bill, how much did Bill receive from his friend? Round your answer to the nearest cent.
$
c What annual simple interest rate did Bill Casler end up making on his investment? Round your answer to two decimal places.
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