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August 22, 2014

August 22, 2014

Posted by **Thara** on Wednesday, July 22, 2009 at 7:55pm.

- math(simple interest) -
**MathMate**, Wednesday, July 22, 2009 at 8:13pmAssume simple interest rate of 7.25% p.a. and three equal payments of $x.

Future value of capital after 300 days

= 9000*(1+300/365*0.0725)

Future value of 3 equal payments made at 60, 180 and 300 days

= x + x*(1+180/365*0.0725) + x*(1+240/365*0.0725)

Equating the two and solving for x,

x=$88954047/28762= $3,092.76

- math(simple interest) -
**Anonymous**, Monday, April 15, 2013 at 3:36pm2.53

- math(simple interest) -
**sheila**, Friday, April 26, 2013 at 7:45am25,000 at 12.35 x18months

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