Rebecca earned $2,993 as interest by lending a certain amount at a simple interest rate of 2.00%

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Rebecca earned $2,993 as interest by lending a certain amount at a simple interest rate of 2.00% p.m. for 14 months.

a. Calculate the principal amount of the loan.

b. Calculate the maturity value of the loan.

Related Book For answer-question

Engineering Economy

ISBN: 978-0073523439

8th edition

Authors: Leland T. Blank,Anthony Tarquin

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Posted Date: Dec 18, 2020 02:57 AM

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Rebecca earned $2,993 as interest by lending a certain amount at a simple interest rate of 2.00%

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interest rate 2 period 14months interest i100 peri... View the full answer

Engineering Economy

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