Question: Hello! Can you help me solve 2 questions, please! I'd appreciated! Question 1 Mahesh borrowed $5,445 from Becky. He signed a contract agreeing to pay

Hello! Can you help me solve 2 questions, please! I'd appreciated!

Question 1

Mahesh borrowed $5,445 from Becky. He signed a contract agreeing to pay it back 9 months later with 5.85% simple interest. After 3 months, Becky sold the contract to Stan at a price that would earn Stan 5.00% simple interest per annum. Calculate the simple interest rate that Becky earned during the period that she held the contract. Express your answer as a percentage rate rounded to 2 decimal places but don't include the % sign.

Question 2

Rob has $1,000 to invest for 120 days and is considering two options. Option 1: He can invest the money in a 120-day GIC paying simple interest of 4.50%. Option 2: He can invest the money in a 60-day GIC paying simple interest of 4.50% and then re-invest the maturity value into another 60-day GIC. What would the interest rate on the second 60-day GIC have to be for both options to be equivalent? Round your answer to two decimal places and don't include the % symbol.

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