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princess_mine
Nov 16, 2008, 07:42 PM
:confused: Let me ask about the simple and compound interest because i have problems with this type. lets see that Karla's compay receives a one-year note that carries a 12 percent annual interest rate on $3,000 for the sales od used car. I need to calculate the maturity value under each of the followings assumptions:
1) simple interest is charged by how much?
2) the interest is compund semiannualy by how much?
3) the interest id compounded quarterly by how much?
4) the insterst in compounded monthlly by how much?

can you please answer to me the four questions? and please can you tell me the proceed so for the next time i have an idea of how to solve this kind of problems?
thank very much

sincerely,
Catalina