QUESTION $2$

Suppose you borrow $$3,000$ at $7\mathrm{.}25\%$ interest for $14$ months. What is the maturity value?

$$253\mathrm{.}75$

$$3,217\mathrm{.}50$

$$3\mathrm{.}253\mathrm{.}75$

$$217\mathrm{.}50$

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