ASSIGNMENT 04 MA140 Business Analysis Directions: Be sure to make an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English spelling and grammar. Sources must be cited in APA format. Refer to the "Assignment Format" page for specific format requirements. 1. Jacksonville Technical College received $3,445,553 in state aid on September 15 for the fall academic semester. The vice-president for finance decided to invest $2,000,000 in a 2-month investment that pays 11.5% simple interest. How much interest will the college earn on the investment? (15 points) 2. Barney Casey borrowed $40,000 from his parents for 2 years. He paid them a total of $45.000 at the end of the 2-year term of the simple interest loan. What rate of interest did he pay his parents? (15 points)