Solutions to facebook situations

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Solution to Situation 1:

MONTHLY RATE OF INTEREST = 4.45%/12 = 0.3708% per month

FRACTION = 0.3708/100 = 0.0037 (rounded)

ACCUMULATED INTEREST = FRACTION x PRINCIPAL x MONTHS = 0.0037 x $2000 x 51 months = $377 (rounded).