I lent $1,200 for 2 months at 5% annual simple interest. What is the future value of this loan?

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I lent $1,200 for 2 months at 5% annual simple interest. What is the future value of this loan?

25 May

I lent $1,200 for 2 months at 5% annual simple interest. What is the future value of this loan?
thanks

whats it the future value of a loan of $10,000.00 at 9.5% for 60 months and what is the payment?
What is the future value of an annual ordinary annuity of $2,000 for twenty years at 6% annual interest?
10% interest rate. What is the future value of this.?
What nominal interest rate must the analyst be using to find the future value in this problem?

1 Comment

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Tags: $1200, annual, future, interest, lent, loan, months, Simple, this, value

mom

May 25, 2010 at 4:35 am

1200(.05)(2/12)
you get $10 interest
you should receive $1210