1. Hernandez Engineering borrows $5,500, at 6 1/2% interest, for 150 days. If the bank uses the ordinary interest method, how much interest (in $) will the bank collect? (Round your answer to the nearest cent.)

2. Jefferson Bank made a loan at 7% interest for 238 days. If the amount of interest was $254.53, use the ordinary interest method to find the amount of principal (in $) borrowed. (Round your answer to the nearest dollar.)

3. What is the rate of interest (as a %) on a loan of $7,000, for 236 days, if the amount of interest is $327.39, using the ordinary interest method? Round to the nearest tenth of percent.

4. Carlos takes out a loan for $10,400, at 8% ordinary interest. If the amount of interest is $332.80, what is the time period (in days) of the loan? Round any fraction to the next higher day.

5.Michelle Payne deposited $4,000 in a savings account paying 6.25% simple interest. How long (in years) will it take for her investment to amount to $7,000?