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6. Jasper Brown deposited $743.20 in a savings account at the Suburban Trust Com- pany on May 1. At the end of July his interest was computed at an annual rate of 7%. How much simple interest did Jasper's money earn?

6. Jasper Brown deposited $743.20 in a savings account at the Suburban Trust Com- pany on May 1. At the end of July his interest was computed at an annual rate of 7%. How much simple interest did Jasper's money earn?

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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6. Jasper Brown deposited $743.20 in a savings account at the Suburban Trust Com- pany on May 1. At the end of July his interest was computed at an annual rate of 7%. How much simple interest did Jasper's money earn? 7 On April 1 Michael Reeves deposited a refund check for $240.85 in a savings Ccount mbenthe smple interest did Michael Sount at Main Street Savings Bank with a waran ann ual rate of 69% and addedote
Transcribed Image Text:6. Jasper Brown deposited $743.20 in a savings account at the Suburban Trust Com- pany on May 1. At the end of July his interest was computed at an annual rate of 7%. How much simple interest did Jasper's money earn? 7 On April 1 Michael Reeves deposited a refund check for $240.85 in a savings Ccount mbenthe smple interest did Michael Sount at Main Street Savings Bank with a waran ann ual rate of 69% and addedote
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