Question: Help me solve this a) Julia invests $4,000 which increases to $5,344 after 7 years of simple interest at r% p.a.? (i) How much interest

Help me solve this

a) Julia invests $4,000 which increases to $5,344 after 7 years of simple interest at r% p.a.? (i) How much interest I did Julia earn? 1 mark I = $ (ii) What is the formula for calculating the value of r? 1 mark Option 1: r = 100P IT Option 2: r = 1007 IP Option 3: r = 1001 PT Option 4: r = PT 1001 Answer: Option (iii) What is the value of r? 1 mark

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