Determiner (the interest rate), n (the number of years), P (the present value), and F (the compound amount) for each of the given situations. (a) $600 invested at 6% simple interest grows to $636 in 12 months. (b) In order to have $840 after 5 years at 8% simple interest, $600 must be deposited. (a) The situation is that $600 invested at 6% simple interest grows to $636 in 12 months The interest rate is (Type an integer or a decimal)