1. What is the simple interest on $4,500 for 2 and a half years at 4% per year? 2. On a loan of $4,500 for 2 1/2 years at 4% per year, how much do you wind up paying to pay off the loan?
3. What is the simple interest on $40,000 for 10 years at 12%?
4. For a loan of $40,000 at 12% for 10 years, how much do you wind up paying back?