1. On 23 January 2021, Sofie took a loan of RM7000 from a local bank that charged r% simple interest per annum. By using Banker's Rule, Sofie settled her loan on 18 May 2021 by payingRM...

1. On 23 January 2021, Sofie took a loan of RM7000 from a local bank that charged r% simple interest per annum. By using Banker's Rule, Sofie settled her loan on 18 May 2021 by paying RM7134.17. Using S=P(1+rt) No use excel. Find: a) the term of the loan. b) the interest rate, r.