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 of7%. How much simple interest did Jasper's money earn?7 On April 1 Michael Reeves deposited a refund check for $240.85 in a savingsCcountmbenthesmple interest didMichaelSount at Main Street Savings Bank with awaran ann ualrate of 69% and addedote

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Answered: 6. Jasper Brown deposited $743.20 in a…

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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David held a loan of $2,400 for 6 months and was charged interest of $132.00. What was the annual simple interest rate on this loan?
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5. On June 1, Bertha Hammond deposited $545 in a savings account at Metro Sav- ings and Loan Association. At the end of November her interest was computed at an annual interest rate of 7%. How much simple interest did Bertha's money earn? 6. Jasper Brown deposited $743 20 in a savi pany on MayWAt the end O 7 % How much simple interest did dasper s money earn? the Suburban Trust Com- annual rate of
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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?