In order to start a small​ business, a student takes out a simple interest loan for ​$5000.00 for 3 months at a rate of 7.25​%.   a. How much interest must the student​ pay? b. Find the future value of the loan.

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A: Here we use formula of compound interest.

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A: Here is the solution of the given problem.  Elementary Row operation.

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A: Solution is here

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A: Given :P= ​$10,000​r= 9​%t= 180 days

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A: See the details solution in below

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A: topic- compound interest

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A: Here is the solution.

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A: solution is given below

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A: This question can be solved using the concept of functions.

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