Question: **Will leave positive feedback if the answer is clear, correct and readable. Please answer FULL question.* Bill Casler bought a $1000, 9-month certificate of deposit

**Will leave positive feedback if the answer is clear, correct and readable. Please answer FULL question.*

Bill Casler bought a $1000, 9-month certificate of deposit (CD) that would earn 8% annual simple interest. Three months before the CD was due to mature, Bill needed his CD money, so a friend agreed to lend him money and receive the value of the CD when it matured.

(a) What is the value of the CD when it matures? $ (b) If their agreement allowed the friend to earn a 10% annual simple interest return on his loan to Bill, how much did Bill receive from his friend? (Round your answer to the nearest cent.) $

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