What is the future equivalent of 1000 invested at 6 simple


Question: 1. What is the future equivalent of $1,000 invested at 6% simple interest per year for 3½ years?

2. Jonathan borrowed $10,000 at 6% annual compound interest. He agreed to repay the loan with five equal annual payments at end-of-years 1-5. How much of the annual payment is interest, and how much principal is there in each annual payment?

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Microeconomics: What is the future equivalent of 1000 invested at 6 simple
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