Question: a)We know that Simple interest can be found by using formula: I = Prt Find the simple interest on a loan of $18,000 at 6.2%

a)We know that Simple interest can be found by using formula: I = Prt

Find the simple interest on a loan of $18,000 at 6.2% interest for 11 months.

b) If $7,000 is invested at 5% simple annual interest, find the investment's future value in 5 years.

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