12. You have three loans of $1,000 due in 15 days, $800 due in 38 days, and $1,300 due in 55 days. What is the average due date at a 4% simple interest rate? Use Banker's Rule. a) 34.10 days b) 32.48 days c) 41.56 days d) 37.71 days 13. You take a simple discount loan at a 6% simple discount rate for 3 years. If you nood exactly $40,000 to start your business immediately, what should the loan amount be? a) $18,780.49 b) $32,800.00 c) $54,689.42 d) $65,208.79 14. You deposit $500 in a savings account at a 9.32% compounded annually. What is the effoctive rate of the compound interest during the third year measurement period? a) 5.49% b) 6.21% c) 7.63% d) 9.32% 15. How long will it take for a $10,000 investment to grow to $18,000 at (8)-3%? a) 11.35 years b) 15.63 years 10 c) 19.83 years d) 24.58 years