What is the completed table for simple interest notes

Business & Finance
Tutor: None Selected Time limit: 1 Day

What is the time and maturity value for simple interest notes: face value $8,000  rate 12%  interest $640.

Dec 5th, 2015

Thank you for the opportunity to help you with your question!

interest = 640 = 8000*12% *t 

t = 640/(8000*0.12) = 2/3 

=360*2/3 = 240 days

maturity value = 8000+640 = 8640

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Dec 5th, 2015

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