Lauren and Serena each have 59-week loans. At the end of their terms, they each repay $3,800. Lauren's loan uses the simple discount model while Serena's loan uses the simple interest model. The annual simple interest rate on Serena's loan is 11.2%. What would the annual simple discount rate have to be on Lauren's loan if they borrowed the same amount of money? Round your answer to the nearest tenth of a percent.

arnie and beth litner recently bought a house for $425,000. They put 10% down as a down payment and took out a 15-year fixed mortgage with monthly payments and an interest rate of 6.8%. 1)What is their monthly payment? 2) What proportion(%) of their mortgage payments made during the first five years will be applied to interest?

A couple buys a $180000 home, making a down payment of 20%. The couple finances the purchase with a 15 year mortgage at an annual rate of 3.8%. Find the monthly payment.  If the couple decides to increase the monthly payment to $1100, find the number of payments.

A couple borrows $300,000 at an APR of 4.8% compounded monthly on a 30-year mortgage with monthly payments of $1,574. (a) How much of the first payment goes to interest? (b) Find the total interest paid over the life of the loan. (c) After making their 70th payment, they refinance the loan at an APR of 3.6% compounded monthly for 15 years. The refinanced amount includes the unpaid balance from the original loan plus a refinance charge of $2,000. Find the new monthly payment. (d) Find the amount saved by refinancing.