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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
simple and Compound Interest
se6. Maruti Motors, Inc., receives a one-year note that carries a 12 percent annual interest rate on $3,000 for the sale of a used car. Compute the maturity value under each of the following assumptions: (1) Simple interest is charged. (2) The interest is compounded semiannually. (3) The interest is compounded quarterly. (Round to the nearest cent.)
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