Suppose that you borrow $2000.00 from a friend and promise to pay back $3260.00 in 3 years. What simple interest rate will you pay? The simple interest rate is % (Round to the nearest tenth as needed.) The principal P is borrowed at a simple interest rate r for a period of time L. Find the loan's future value A, or the total amount due at time L. P=$7000,r=8.5%,t=8months The loan's future value is $ (Do not round until the final answer. Then round to the nearest cent as needed.) The principal P is borrowed at a simple interest fale r for a period of time t. Find the simple interest owed for the use of the money. Assume there are 360 days in a year, P=$7000,r=8.5%,t=6months (Round to the nearest cent as needed.)