10. Jack has a friend, Mike, who recently sold his car to another friend, Sally. Sally agreed to pay Mike $10,750 in 9 months 4 months ago and signed a note to that effect. Unfortunately, Mike needs some cash now. Jack agrees to take the note off of Mikes hands for $10,300. What annual simple interest rate will Jack earn when Sally pays him at the end of the time period?

11.Kari wants to save for her kids college education. She expects to need $75,000 in 17 years. If she can afford to save $225 per month, what interest rate must she earn each month to be able to make her goal?

12. Larry received an inheritance of $25,000 he plans to invest in an account that pays interest compounded monthly. What interest rate must the money earn to have $1,000,000 in the bank in bank when he retires in 40 years?