Question: 1. A friend lends you $200 for a week, which you agree to repay with 5% one-time interest. How much will you have to repay?

1. A friend lends you $200 for a week, which you agree to repay with 5% one-time interest. How much will you have to repay?

2. Suppose you obtain a $3,000 T-note with a 3% annual rate, paid quarterly, with maturity in 5 years. How much interest will you earn?

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