Section 3.1 Exercise 1. $18,000 is invested for 6 months at an annual simple interest rate of 14%. a) How much interest will be earned? b) What is the future value of the investment after 26 months? Exercise 2. Find the total amount due on a loan of $500 at 12% simple interest at the end of 30 months. Exercise 3. If you want to earn an annual rate of 10% on your investments, how much (to the nearest cent) should you pay for a note that will be worth $5,000 in 6 months? Exercise 4. If you buy a 180-day T-bill with a maturity value of $10,000 for $9.828.74. what annual simple interest rate will you earn? (Express answer as a percentage)