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- Find the rate on a 1-year loan of $450 with an interest of $120. Rounded to the whole percent. - Find the duration of

- Find the rate on a 1-year loan of $450 with an interest of $120. Rounded to the whole percent.

- Find the duration of a loan of $3,000 if the loan required interest of $213.75 and was at a rate of 912% annual simple interest.

- Norma, Inc. borrowed $3,575 for 3 years at 15% annual simple interest. Find the maturity value of the loan.

I = PRT

MV = cash price + interest

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