1. Assume that all interest is simple interest.

Berger Car Rental borrowed

$9412

at

4%

interest to cover the increasing cost of auto insurance. Find the term of the loan if the interest is

$282.36

.

The term of the loan is months.

2. When Cecilia's car needs a new transmission, she's stuck with a bill for

$1593

. The dealership offers her an

18

-monthloan at

14.7%

interest to be repaid in

18

equal installments. Find the monthly payment. Round your intermediate steps to the nearest cent.

The monthly payment is $ .

3. Businesses that offer repayment plans for purchases are required by law to disclose the interest rate. But that doesn't mean they go out of their way to let you know what it is. You have to read all the paperwork. Find the interest rate for the following purchase.

To finance a new laptop, Emilie is offered a

5

year payment plan with low monthly payments of

$32.50

.The cost of the laptop was

$884.29

including tax. Round to one decimal place, if necessary.

The interest rate is % .