Question: Suppose in Singapore fixed deposit is calculated based on simple interest. Nicholas deposits $2000 in a bank fixed deposit for 6 months at an

Suppose in Singapore fixed deposit is calculated based on simple interest. Nicholas

Suppose in Singapore fixed deposit is calculated based on simple interest. Nicholas deposits $2000 in a bank fixed deposit for 6 months at an interest rate of 13.25% per annum. How much interest will he earn? If Nicholas reinvests the $2000, plus the interest earned for a further 6 months again at 13.25% per annum, how much interest will he earn in this second 6-month period

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