4. $10,000 is deposited in a savings account earning 1.75% simple interest.

What is the future value (nearest penny) of the $10,000 after 5 years?

What is the future value after 5 years if the same account earns 1.75% interest compounded annually?

5. You borrow $2000 on March 20 at 15% simple interest.

a. How much interest (to the nearest penny) accrues by September 20 (180 days later). Assume ordinary interest.

b. What is the total amount that you must repay?

6. A car has an advertised price of $22,000 cash or $650 per month for 4 years. If you pay the $650 per month for 4 years, what is the total amount you would be paying for the car?

7. If I = Prt and I = $398.90, r = 9.85% and t = 1 year, how much is P (to the nearest dollar)?

8. If a loan is held for 180 days, then t is about: A. 180 B. 1/2 C. 1/4 D. 3

Please show work. Thank you.