Question $1(1$ point$)$

A loan was paid in full on September $22n.$ On what date was the money borrowed if the term of the loan was $120$ days?

May $25$

May $15$

June $1$

June $22$

Question $2(1$ point$)$

Allanah can receive $$2,600$ today or $$2,745\mathrm{.}60$ in $14$ months. At which of the following simple interest rates are the two alternatives economically equivalent?

$4\mathrm{.}80\%$

$4\mathrm{.}00\%$

$4\mathrm{.}55\%$

$8\mathrm{.}12\%$