Solution-What simple interest rate would you need

What simple interest rate would you need

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Reference no: EM132872597

Question - You would like to invest your current savings of $2200 so that it would grow to $3000 in 3 years.

a) What simple interest rate would you need?

b) At 5% simple interest, how long would it take for $2200 to grow to $3000?

c) What principal invested today at 4% simple interest would grow to $3000 in 3 years?

Reference no: EM132872597

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What simple interest rate would you need

Reference no: EM132872597

Reference no: EM132872597

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