How much interest to earn over the next five years
Today, you deposit $2,400 in a bank account that pays 4 percent simple interest. How much interest will you earn over the next 5 years?
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Thomas invests $103 in an account that pays 6 percent simple interest. How much money will Thomas have at the end of 4 years?
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If the appropriate interest rate is 5.18 percent, what is the future value of these investment cash flows six years from today?
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