29).

In order to start a small business, a student takes out a simple interest loan for $2000.00 for 3 months at a rate of 9.25%. a. How much interest must the student pay? b. Find the future value of the loan. a. The amount of interest is $ (Round to the nearest cent as needed.) b. The future value is $ (Round to the nearest cent as needed.) Suppose that you borrow $1000.00 from a friend and promise to pay back $1645.00 in 3 years. What simple interest rate will you pay? The simple interest rate is % (Round to the nearest tenth as needed.)