If a lender makes a simple loan of $400 for 3 years and charges 5%, then the amount that the lender receive at maturity is $. (Round your response to the nearest two decimal place) If a lender makes a simple loan of $2000 for one year and charges $110 interest, then the simple interest rate on that loan is %. (Round your response to the nearest whole number) If a borrower must repay $106.50 one year from today in order to receive a simple loan of $100 today, the simple interest on this loan is O A. 6.0% O B. 65% O C. 6.5% O D. 5.0%

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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If a lender makes a simple loan of $400 for 3 years and charges 5%, then the amount that the lender receive at maturity is $
If a lender makes a simple loan of $2000 for one year and charges $110 interest, then the simple interest rate on that loan is
(Round your response to the nearest two decimal place)
If a borrower must repay $106.50 one year from today in order to receive a simple loan of $100 today, the simple interest on this loan is
s %. (Round your response to the nearest whole number)
O A. 6.0%
O B. 65%
O C. 6.5%
O D. 5.0%
wwww
www
Next
Transcribed Image Text:If a lender makes a simple loan of $400 for 3 years and charges 5%, then the amount that the lender receive at maturity is $ If a lender makes a simple loan of $2000 for one year and charges $110 interest, then the simple interest rate on that loan is (Round your response to the nearest two decimal place) If a borrower must repay $106.50 one year from today in order to receive a simple loan of $100 today, the simple interest on this loan is s %. (Round your response to the nearest whole number) O A. 6.0% O B. 65% O C. 6.5% O D. 5.0% wwww www Next
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