Calculating Interest
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The simple interest payable on an initial investment of $20 000 invested at 5.5% per annum for four years will be
$4400
If you require $20 000 in two years time, the amount that you should invest at 6.5% per annum simple interest is closest to
$17 700
The simple interest payable on an initial investment of $10 000 invested at 3.5% per annum for three years will be
$1050
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