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Mathematics, 10.03.2021 14:00 reinaelane77
2. Adam borrows $6,000 from his parents today for university fees and he promises
to pay a lump sum of $6,900 in 3 years' time. Calculate the following quantities
for the repayment arrangement:
(a) the effective annual interest rate.
(b) the equivalent simple annual interest rate.
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Answers: 2
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2. Adam borrows $6,000 from his parents today for university fees and he promises
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