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Given maturity amount of 1700 after 8 months having invested 1200 in a savings account ....

Given maturity amount of 1700 after 8 months having invested 1200 in a savings account . If the amount was invested in a Business with monthly interest rate given 3% higher than the savings account. Calculate the maturity amount after 8 months investing the same amount in the business.

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Maturity amount 1,700.00
Principle 1,200.00
Interest amount       500.00
Period (months)           8.00
Interest rate 62.50%
Business Interest rate is higher by 3%
Business Interest rate 65.50%
Interest amount       786.00
Maturity amount 1,986.00
answered by: anonymous
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