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On March 18, when the posted prime rate was 2%, an investment of $2,000 was placed into an account earning prime + 1.5%. Effective May
On March 18, when the posted prime rate was 2%, an investment of $2,000 was placed into an account earning prime + 1.5%. Effective May 2, the prime rate rose by 1%. If the money was withdrawn on November 8, how much simple interest did it earn?
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Account interest rate can be calculated as Prime rate 15 Account interest rate is 2 15 35 ...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
