1. What is the current value of a loan taken at 7 % for 5 years if the borrower has to pay a...

1. What is the current value of a loan taken at 7% for 5 years if the borrower has to pay a total of $11,500?

2. If you deposit $600 at a bank paying 4% simple interest, how much will you collect after 11 months? 3. If you want your balance to be $8,000 in 4 years and if you deposit your money at a bank paying 6%, how much is the initial deposit?