1. Joe wants to calculate the total finance charge on a 3-year, 5% simple interest, single payment loan for $5,000

2. Joe has taken out a 2 year, 3% discount, single payment loan for $5,000. What is the total finance charge of the loan?

3. Joe is considering taking out a 3-year, 5%, single-payment discount loan for $5,000. Hes heard that the APR for discount loans is greater than the stated rate and wants to confirm exactly how much higher it is before considering an otherwise comparable simple interest loan?

4. Joe has decided to borrow $5,000 using a 2-year, 5% monthly installment loan. He wants to calculate the amount of the monthly payments and the APR on the loan.