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Gregory invested his savings of $1,100 in a savings account that was earning simple interest at 2.52% p.a. He also invested $3,925 in his friend's

Gregory invested his savings of $1,100 in a savings account that was earning simple interest at 2.52% p.a. He also invested $3,925 in his friend's business at 0.44% p.m.


a. What is the interest rate per month that is equivalent to 2.24% p.a.?

b. What was the total interest earned from both investments at the end of 3 months?

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