SOLUTION: You want to invest $8,000 over a 60-month period at 3 12 % simple interest. What is the total value of this investment at maturity?

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Question 1011790: You want to invest $8,000 over a 60-month period at 3 12 % simple interest. What is the total value of this investment at maturity?
Answer by amarjeeth123(570) About Me  (Show Source):
You can put this solution on YOUR website!
P=8000
t=60 months=5 years
r=3.5%
Interest=Ptr/100=8000*5*7/2*1/100=80*35/2=40*35=1400
Investment is worth 8000+1400=$9400 at maturity.