An investment of $2,500 is made for 8 months at an annual simple interest rate of 2.25%. What is the future value of the investment (in dollars)?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 16P
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An investment of $2,500 is made for 8 months at an annual simple interest rate of 2.25%. What is the future value of the investment (in dollars)?
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