1. A businessperson took out a loan of $60000 from the Bank at a simple interest rate of 5.25% on March 10, which is due on June 11.

1. Find the number of days of the loan from March 10 until June 11.

1. 93
2. 90
3. 95
4. None

Ans:

2. Using exact interest, find the interest amount (I=?).

1. $850
2. $802.60
3. $749.25
4. None

Ans:

2. A Supplier borrowed $24000. The loan was for 14 months at a simple interest rate of 7%.

1. Find the Interest Amount

1. $1980
2. $1999
3. $1960
4. None

Ans:

2. Calculate the Maturity Value (Future Value)

1. $ 25960
2. $26590
3. $24000
4. None

Ans:

please type the steps.