In order to start a small business, a student takes out a simple interest loan for $3000.00 for 9 months at a rate of 11.75%. a. how much interest must the student pay? b. find the future value of the loan. a. the amount of interest is $ . (round to the nearest cent as needed.) b. the future value is $ (round to the nearest cent as needed.)

(a) $264.375 ⇒ Amount of Interest

(b) Future Value = $3264.375

Step-by-step explanation:

(a) Principal amount = $3000

Time period = 9 months

Interest rate = 11.75%

Simple interest(SI) = principal amount × rate of interest (i) × time period

                              = 3000 × ×

                              = 3000 × 0.1175 × 0.75

                               = $264.375 ⇒ Amount of Interest

(b) Future value of loan = principal amount + interest amount

                                        = 3000 + 264.375

                                        = 3264.375

thats not a system of equations, that is a solution

i'm sorry mate, but i am not seeing any figures. i am unable to solve this for you.