Simple Interest

1. If a loan of $5,750 is taken out at a simple interest of 5.25% for a year and a half, how much interest will the borrower pay?

2. At what rate of simple interest would a loan of $3,000 be taken for 2 years if the total interest is $375?

3. Find the principal of a loan taken at 8% for 3 weeks when the total interest is $516.

4. Dina borrowed $5000 at 10% simple interest for 10 months, but 5 months later she had to go abroad, and her lender agreed to settle by discounting the loan at 15%. How much did she have to pay?

5. What is the current value of a loan taken at an annual simple interest rate of 7.25% for 5 years if the borrower has to pay a total of $11,500?

6. Brenda's loan is to be paid off in 3 installments: $1000 in a year, $1000 in 18 months, and $2000 in 2 years. What would be the amount that she borrowed at the annual simple interest of 6%?

7. Brenda's loan is to be paid off in 3 installments: $1000 in a year, $1000 in 18 months, and $2000 in 2 years. But she later decided to pay it all off in one year and a half. How much should she expect to pay? The annual interest rate is 6% simple.