A bank offers a simple interest loan of $35 000 with monthly repayments of $545. a. Calculate what the rate of simple interest is if the loan is paid in full in 15 years.
b. After 5 years of payments the bank offers to reduce the total time of the loan to 12 years if the
monthly payments are increased to $650. Calculate how much interest would be paid over the life of
the loan under this arrangement.
c. Calculate the average rate of simple interest over the 12 years under the new arrangement.

Aspacecraft can attain a stable orbit 300 kilometers above earth if it reaches a velocity of 7.7 kilometers per second. the formula for a rocket's maximum velocity v in kilometers per second is vequalsminus0.0098tplusc ln upper r, where t is the firing time in seconds, c is the velocity of the exhaust in kilometers per second, and r is the ratio of the mass of the rocket filled with fuel to the mass of the rocket without fuel. find the velocity of a spacecraft whose booster rocket has a mass ratio of 20, an exhaust velocity of 2.1 km/s, and a firing time of 15 s. can the spacecraft achieve a stable orbit 300 km above earth?