Please include calculations/steps for solving.

Billy Thornton borrowed $195,000 at a rate of 7.25%,simple interest, with interest paid at the end of each month. The bank uses a 360-day year. How much interest would Billy have to pay in a 30-day month?

Select the correct answer.

a. $1,177.03

b. $1,179.23

c. $1,175.93

d. $1,180.33

e. $1,178.13

What's the present value of $10,000 discounted back 5 years if the appropriate interest rate is 4.5%, compounded semiannually?

Select the correct answer.

a. $6,484.48

b. $6,473.18

c. $6,461.88

d. $6,439.28

e. $6,450.58