On September 26, 2010, Melissa received $4,750 from his father. He settled this amount on March 6, 2011 with interest of $148.52.

No written response required.

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

169

161

150

177

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

0.71%

0.19%

2.33%

7.09%