Solved: Determine the date of the end of the term of investment, Finance Basics

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Determine the date of the end of the term of investment

Problem:

Sherman agreed to deposit $4,450 in an account paying 16% simple interest per year for 60 days. If she made the deposit on February 25, determine

(a) the date of the end of the term of the investment, and

(b) the ordinary interest Sherman will earn.

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Finance Basics: Determine the date of the end of the term of investment

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Finance Basics: Determine the date of the end of the term of investment

Reference No:- TGS02039083

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