1. How much interest would be paid on a loan of $5500 at 4.5% for 7...

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1. How much interest would be paid on a loan of $5500 at 4.5% for 7 months? Round your answer to the nearest cent.

2. What principal would you need to invest at a rate of 7.5% to earn $800 in 4 months? Round your answer to the nearest cent.

3. What is the simple interest paid on $1450 at 4.5% for one year? Round your answer to the nearest cent.

4. How much simple interest would be paid on a loan of $5370 at 12.7% for 7 months? Round your answer to the nearest cent. Note: 360 days in a year and 30 days in a month.

5. How much simple interest would be paid on a loan of $5370 at 12.7% for 7 months? Round your answer to the nearest cent. Note: 360 days in a year and 30 days in a month.

6. What is the simple interest paid on $650 at 5.5% for 5 years? Round your answer to the nearest cent.

7. What is the simple interest paid on $950 at 5.5% for 3 years? Round your answer to the nearest cent.

8. What is the simple interest paid on $2300 at 4% for one year? Round your answer to the nearest cent.

9. How much interest would be paid on a loan of $3100 at 3.5% for 3 months? Round your answer to the nearest cent.

10. April wants to borrow $360 from her father and is willing to pay $12 in interest. Her father wants to charge an interest rate of 5%. How long can April keep the money?

11. April wants to borrow $400 from her father and is willing to pay $11 in interest. Her father wants to charge an interest rate of 3%. How long can April keep the money?

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1. Assuming the interest rate is an ANNUAL interest rate and we are talking about SIMPLE INTEREST, the answer would be $144.38
2. $32000 (again, assuming simple interest and an annual interest rate)...

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