1.	Jerry borrowed $3,900 to purchase a used car. He will be paying $137.80 for the next 30 months. Find the simple interest rate on the loan.
		A.	5%	B.	3.6%
		C.	2.4%	D.	6%
		Hint
	2.	Suppose $4,385 is placed in a savings account for 4 years. Find the simple interest if the interest rate is 3.85%.
		A.	$675.29	B.	$337.65
		C.	$168.82	D.	$506.47
		Hint
	3.	James has a bank account with $500.00 that collects 2.875% interest annually. How much will be in James' account after 24 months if no transactions are made?
		A.	$471.25	B.	$3,375.00
		C.	$28.75	D.	$528.75
		Hint
	4.	Nick borrowed $5,500.00 to purchase a used car. The bank charges 10.25% interest on Nick's loan for a period of 5 years. Find the amount of interest Nick will pay on his loan.
		A.	$281.88	B.	$2,818.75
		C.	$5,781.88	D.	$8,318.75
		Hint
	5.	Find the simple interest to the nearest cent on $527.86 at 3.99% for 7.5 years.
		A.	$147.43	B.	$157.96
		C.	$369.90	D.	$685.82
		Hint