6A. 14,000 is invested for 3 years at an annual simple interest rate of 14%. What...

6A. 14,000 is invested for 3 years at an annual simple interest rate of 14%.

What is the future value of the investment at the end of the 3 years?

B. To buy a Treasury bill (T-bill) that matures to $10,000 in 6 months, you must pay $9750

If the bank charges a fee of $70 to buy a T-bill, what is the actual interest rate you earn? (Round your answer to one decimal place

C. If $5000 is invested at 9% annual simple interest, how long does it take to be worth $8600?

D. Bill Casler bought a $2000, 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

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.)

Expert Solution

ekkarill92 answered 1 year ago

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