Question 7 Simple Interest and loan repayment schedule Show calculations to answer the following:

a) Calculate the value in 6 years of an investment of $2,000 earning 5% simple interest per year.

b) If an investment grew from $5000 to $6600 in 4 years, what rate of simple interest was it earning?

c) You borrow $3000 to purchase a new computer. The interest rate is 12 p.a. flat rate (simple interest) and is due for repayment in 6 months