On September 26, 2010, Jesse received $7,500 from her father. She settled this amount on March 6, 2011 with interest of $142.54.

No written response required.

a. What was the time period of the loan, expressed in days (rounded up to the next day)?

166

161

152

178

b. What was the annual rate of simple interest charged for this loan?

0.43%

0.12%

1.42%

4.31%