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1.) You borrow ​$ style=”color:rgb(0,0,0);”>2000.00 from a friend and promise to pay back ​$2860.00 in 2 years. What simple interest​ rate, to the nearest tenth of a​ percent, will you​ pay? 2.) A bank offers a CD that pays a simple interest rate of 3.5​%. How much must you put in this CD now in order to have ​$2500 for a​ home-entertainment center in 6 years?

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1.) You borrow ​$

style=”color:rgb(0,0,0);”>2000.00 from a friend and promise to pay back ​$2860.00 in 2 years. What simple interest​ rate, to the nearest tenth of a​ percent, will you​ pay?

2.) A bank offers a CD that pays a simple interest rate of 3.5​%. How much must you put in this CD now in order to have ​$2500 for a​ home-entertainment center in 6 years?

 
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