Lonnie needs extra money to buy a truck to start up a delivery service. He takes out a simple interest loan for $4000 for 3 months at the rate of 5.25%. How much interest must he pay and what is the future value of the loans?
A. interest: $52.50; future value: $4052.50
B. interest: $57.27; future value: $4057.27
C. interest: $65.50; future value: $4065.50
D. interest: $630; future value: $4630
Lonnie needs extra money to buy a truck to start up a delivery service. He takes out a simple interest loan for $4000 for 3 months at the rate of 5.25%. How much interest must he pay and what is the future value of the loans?
A. interest: $52.50; future value: $4052.50
B. interest: $57.27; future value: $4057.27
C. interest: $65.50; future value: $4065.50
D. interest: $630; future value: $4630
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