This Problem Set is a part of the Lesson 10, Unit 4, Grade 7. Enrique takes out a student loan to pay for his college tuition this year. Find the interest on the loan if he borrowed at an annual interest rate of for years. Your family plans to start a small business in your neighborhood. Your father borrows from the bank at an annual interest rate of rate for months. What is the amount of interest he will pay on this loan?