Calculate the amount of simple interest earned.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 1P
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Calculate the amount of simple interest earned.
$1,000 at 11% for 20 years
$
Transcribed Image Text:Calculate the amount of simple interest earned. $1,000 at 11% for 20 years $
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