### Problems: Simple Interest, Compound Interest, Effective Interest Rate, Geometric Sequence, Annuity, Loan, Mortgage

Find the simple interest for each loan: 1. $15,903 at 8% for 8 months 3. $42,368 at 5.22% for 5 months 5. For a given amount of money at a given interest rate for a given time period, does simple interest or compound interest produce more interest? Find the compound amount in each loan: 7. $19,456.11 at 12% compounde