Banking

3- Your mother borrowed USD1500 at an annual simple interest of 12%. She paid $270 in interest. For what time period did she borrow the money? a) 8years c) 5 years b) 18 years d) 18 months 4- If the simple interest on a sum of money at 5% per annum for 3 years is $1200, then the compound interest on the same sum for the same period at the same rate will be ........ a) $1225 c) $1248 b) $1236 d) $1261 5- The principal that amounts to $ 4913 in 3 years at 6/4% per annum compound interest, compounded annually, is a) $ 3096 b) $ 4085 c) $ 4076 d) $ 4096 6- Find the principle amount for a loan that has an earned interest of $4500 with annual flat rate of 10%and was granted for 5 years a) $9000 c) $13,178 b) $14,500 d) $8190