1. $400 is borrowed for 33 months at a simple interest rate of 6% per annum. What. Is the interest due on this loan? $________
2. $2000 is borrowed; the. Amount owed after 18 months is $2300. What is the simple rate for this loan? _____%
3. $1300 is repaid in3 months at 6%. Find the proceeds for the discounted loan. $_______
4. Madalyn wants to buy a $400 stereo set in 9 months. How much should she invest at 5% simple interest to have the money then? $_________
5. A set of Egyptian cotton sheets has a list price of $170 but is on sale for $100.30. By what percent is the list price reduced? _______%
6. In April 2010, the interest rate on 36 month used car loans was 5.74%. Suppose you have a contract to buy a used car for $7000.

1. If a bank will lend you $7000 at a 5.74% simple rate of interest for 36 months, how much interest will be charged? $________
2. What is the total amount of the loan? $________
3. What is the monthly payment due? $_________