1. mr. adeb takes out an $8,000 personal loan to
restore his antique car. the bank loans him the
money at 4.5% simple interest for 4 years.
a. how much will mr. adeb pay in interest?
b. what is the total cost of the restoration
including the interest?
2.a $3,000 loan is taken out for 12% interest for 6
months. what is the amount of interest charged?
a. $36.00
b. $90.00
c. $180.00
d. $270.00
3. attend to precision. mr. and mrs. watson decide
to remodel their bathroom. they need a short term
loan. they borrow $3,200 from a local bank at an
interest rate of 11%. after receiving their income
tax return, they are able to pay off the loan after
only 9 months. how much interest did they pay on
i give 20 points