1. Find the future value of the loan. Round your answer to the nearest cent.

=P=$400,r=7%,t2

years

The future value of the loan is $ .

2.Find the interest on the loan using the Banker's rule.

=P=$525,r=7.6%,t120days

The interest on the loan using the Banker's rule is

$

3. The following loan is discounted. Find (a) the discount, (b) the amount of money received, and (c) the true interest rate.

=P

$2400.00

=,r=612%,t3

years

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(a) The discount is $ .

4.