QUESTION 1 How long did it take a 2000 loan at 2 1/2% interest rate to generate 37.50 interest? O 75 month O .0075 years O 1 year 75 months O 9 months QUESTION 2 What interest rate did the bank give on a $2500 loan for 9 months and you received $60.94 in interest? O 54.70% O 32.5% O 3.25% O 2.71% QUESTION 3 What is the principle of a loan that had interest of 27.50 at 3.75% interest rate for 8 months? O 916.67 O 1100 488.88 O 11