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

add all the numbers and check the ones place.

the answer is 486. as the ones place is more than 4, the estimation will be the next 10 ie, 490

well what did you do it matters what you did : )

step-by-step explanation: