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1) Carmen borrowed $1,200 for three months at 10.5% interest. How much interest did she pay for the loan? 2)Zack deposited $1,200 in a savings account that paid 7.75% simple interest. What was the balance in his account at the beginning of the third year?...

Preferred Stock for $500,000 and Paid-In Capital in Excess of Par—Preferred Stock for $250,000