Answer:
Compound interest =$14.58
Simple Interest=$14.79
Step-by-step explanation:
Let's assume the interest rate charged on the loan was simple in nature.
-Simple interest is calculated using the formula:

Hence, the simple interest on the loan was $14.79
#If the interest is compound in nature with just one compounding per year:

Hence, the compound interest charged on the loan is $14.58
Answer: 3/4
Step-by-step explanation: Dividing by a fraction is the same as multiplying by its reciprocal. In other words, we can change the divison sign to multiplication and flip the second fraction.
So here, 3/8 divided by 1/2 can be rewritten as 3/8 × 2/1.
Now we are simply multiplying fractions so we multiply across the numerators and we multiply across the denominators.
So we have 3 × 2 which is 6 and 8 × 1 which is 8. Since 6/8 is not in lowest terms, we divide the numerator and the denominator by the greatest common factor of 6 and 8 which is 2 and we get the equivalent fraction 3/4.
Therefore, 3/8 divided by 1/2 is 3/4.