Inactive Tutor answered • 01/28/18
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New to Wyzant
i = prt 15 months = 1 1/4 years = 5/4 years
i = 4000(.07)(5/4)
i = $350
A = 4000 + 250
A = $4250
Niki P.
asked • 01/28/18What are the steps to solve this?
A money market fund advertises a simple interest rate of 7%. Find the total amount received on an investment of $4000 for 15 months.
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Niki P.
01/28/18