8A)

8B)

Suppose you take out a loan for 120 days in the amount of $15,000 at 9% ordinary interest. After 40 days, you make a partial payment of $2,000. After another 60 days, you make a second partial payment of $1,000. What is the final amount due on the loan? What is the rate of interest on a loan of $5,500, for 296 days if the amount of interest is $316.56, using the ordinary interest method? Round to the nearest tenth percent. Do not enter the percent symbol in your answer. %