Question: 1. If $8000 is borrowed at 12% simple interest for 3 years, what is the future value of the loan at the end of the

1. If $8000 is borrowed at 12% simple interest for 3 years, what is the future value of the loan at the end of the 3 years?

2. Mary Toy borrowed $2000 from her parents and repaid them $2100 after 9 months. What simple interest rate did she pay?

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