The simple interest given the principal, time and interest rate is $1012.50.
The maturity value is $21,012.50.
An amount earns simple interest only if the principal increases in value when interest is paid and not both the principal and the interest already accrued.
Simple interest = principal x time x interest rate
$20,000 x 9/12 x 0.0675 = $1012.50
Maturity value = $1012.50 + $20,000 = $21,012.50
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