3 a) Juliana invested $3,050 at a rate of 6.25% p.a. simple interest. How many days will it take for her investment to grow to $3,100?

____ days (round up to the next day)

b) Juliana then loaned $6,500 to Lionel at a simple interest rate of 3.53% p.a. for 2 years and 11 months.

Calculate the amount of interest charged at the end of the term.

(Round to the nearest cent)

" Introduction to simple interest - Days between dates - Calculating interest rate, principal, and time." course content