Expert answer:Multiple Choice Question 1-10 (wk3Qu)n

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Answer & Explanation:QUESTION 1Find the interest paid on a loan of $2000 for 1 year at a simple interest rate of 7% per year.$160.00$14.00 $140.00$2140.00 10 points QUESTION 2Find the interest paid on a loan of $3946 for 5 months at a simple interest rate of 12% per year. $236.76$198.96 $157.84 $197.30 10 points QUESTION 3How much interest will have to be paid on a loan of $10,138 for 7 months at a simple interest rate of 13.3% per year? $786.54$793.15 $674.18$898.90 10 points QUESTION 4How much interest will have to be paid on a loan of $50,967 for 23 months at a simple interest rate of 10.6% per year? $10,441.81$10,354.80$10,805.00$9904.59 10 points QUESTION 5Find the interest paid on a loan of $5410 at 7% annual simple interest for 2.4 years. $908.88$478.36$1287.58$871.01 10 points QUESTION 6Find the interest paid on a loan of $69,750 at 9% annual simple interest for 2.7 years. $16,321.50$8920.66$23,226.75$16,949.2510 points QUESTION 7Find the maturity value of a loan of $6787 after 4 months. The loan carries a simple interest rate of 14% per year. $7106.39$7103.73 $7024.55$7182.9110 points QUESTION 8Find the maturity value of a loan of $13,942 after 8 months. The loan carries a simple interest rate of 11.9% per year. $15,048.07$14,909.81 $15,186.32 $15,057.36 10 points QUESTION 9Find the maturity value of a loan of $49,583 after 18 months. The loan carries a simple interest rate of 8.3% per year. $56,099.03 $55,807.96 $55,413.13 $55,756.08 10 points QUESTION 10Find the total amount of money (maturity value) that the borrower will pay back on a loan of $3429 at 14% annual simple interest for 2.8 years. $4725.16 $4136.46 $4773.17 $5253.23

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