1. William borrows $7565 from the bank at an annual simple interest rate of 5.9%. After 5 years, he repays his debt. How much does he repay?

1. William borrows $7565 from the bank at an annual simple interest rate of 5.9%. After 5 years, he repays his debt. How much does he repay?

Round your answer to the nearest dollar (whole number). 

2. Maggie deposits a certain amount of money in a bank account. After 13 months, she has $7913 in the account. If the account has an annual simple interest rate of 6.4%, how much did she deposit? 

Round your answer to the nearest penny (hundredth place). 

3.  Jacob loans Emma a certain amount of money. After 2 years, Emma repays Jacob $1727. If the loan’s annual simple interest rate is 4.9%, what us the loan’s interest? 

Round your answer to the nearest dollar (whole number). 

4.  A simple discount loan has a maturity value of $2620 and a term of 5 years. If the annual simple discount rate is 13.7%, find the proceeds of the loan. 

Round your answer to the nearest penny (hundredth place). 

5.  A simple discount loan has a discount of $53. The proceeds are $617, and has a term of 407 days. Compute the annual simple discount rate. 

Round your answer to the nearest tenth of a percent. 

6.  A simple discount loan has a maturity value of $5989 and an annual simple discount rate of 7.6%. If the loan’s proceeds are $4839, find the term of the loan in weeks

Round your answer to the nearest tenth of a week.

7.  The proceeds of a simple discount loan are $4256 and the annual simple discount rate is 5.1%. If the term of the loan is 5 months, find the maturity value. 

Round your answer to the nearest dollar (whole number). 

8.  The proceeds of a simple discount loan are $3585 and the annual simple discount rate is 18%. If the term of the loan is 25 weeks, find the discount value. 

Round your answer to the nearest dollar (whole number). 

ANSWERS TO 8 QUESTIONS1. A = $7565+(7565×0.059×5) = $97972. 1.0693p = 7913p = $7913/1.0693 = $7399.943. interest = prt = 1727×0.049×2 = $169.254.. p+(p*0.137*5) = 26201.685p=2620p =…