Jet Airways borrowed $1,000,000 for one year to improve its liquidity. Jet Airways paid back the principal and interest of $1,060,000 at the end of the year. What is the dollar amount of interest and interest rate on this loan?

You are investing $10,000 in a certificate of deposit with a simple interest of 5 percent. How much interest will you accumulate in this CD at the end of four years?