1. Jessica Hernandez borrowed money to remodel a retail space she had leased for her computer training and Web-design business. She signed a note with a 10% simple interest rate, interest of $4800 and time of 180 days. Find the principal.
2. Benson Auto signed a $150,000 note at a rate of 10.5% and interest of $8750. Find the length of the loan in days.
3. James Smith lets an $1800 mortgage payment go 70 days overdue and is charged a penalty of $59.50. Find the rate of interest that was charged as a penalty.
4. Linda Myers borrowed $45,000 so she could meet payroll for the quarter. She agreed to pay $1881.25 in interest in 140 days. Find the interest rate.
5. Jane Barber loaned her nephew $20,000 for 5 months at 9% interest .Find the interest and the maturity value.