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5 and 6 please Question 5 (1 point) You borrow $1,100 from a friend with a promise to pay back $1,400 in 2 years. You

5 and 6 please image text in transcribed
Question 5 (1 point) You borrow $1,100 from a friend with a promise to pay back $1,400 in 2 years. You will be paying an annual simple interest rate of Round your answer to two decimal places. Your Answer: 96. Answer Question 6 (1 point) How much would you need to deposit in an account now in order to have $3,000 in the account in 8 years? Assume the account earns 5.1% simple interest. Five your answer in dollars rounded to two decimal places. Do not include the "$" sign in the answer Your Answer Answer s-11 3 5

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