# SOLUTION: In order ti start a small business, a student takes out a simple interest loan for \$4000 for 9 months at a rate of 8.25%. a-) How much interest must the student pay? b-) Find the

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 Click here to see ALL problems on Money Word Problems Question 597924: In order ti start a small business, a student takes out a simple interest loan for \$4000 for 9 months at a rate of 8.25%. a-) How much interest must the student pay? b-) Find the future value of the loan.Answer by jim_thompson5910(28595)   (Show Source): You can put this solution on YOUR website!FV = PV*(1+rt) FV = 4000*(1+0.0825*(9/12)) FV = 4247.5 a) The student must pay 4247.5 - 4000 = 247.50 dollars in interest b) The future value of the loan is 4247.50 dollars.