Joe borrowed $7,109.00 to buy a car. If interest was charged on the loan at 9.37% p.a., how much interest would Joe have to pay in 240 days? Mac's credit card statement included $1053.00 in cash advances and $33.57 in interest charges. The interest rate on 1 the statement was 12 2% p.a. For how many days was Mac charged interest? 3 Determine the present value of a debt of $12,000 due in eleven months if interest at 5-% is allowed. 4