Q1-Molly invested $600 in her savings account for a period of six months. If saving account was offering her simple interest rate of 2.20% p.m.
a. The maturity of her investment?
b. The interest she earned at the end of the time period ?
Q2-Samantha loaned $300,000 to a small business at 8.25% compounded semi-annually for 3 year and 4 months.
a. How much would the business have to repay Samantha at the end of the period?
b. How much interest did Samantha earn from this investment?