Calculate the simple interest due on a 68-day loan of $2,200 if the annual interest rate is 8%.

To calculate the simple interest due, we can use the formula for simple interest:

\[
I = P \times r \times t
\]

Where:
- $ I $ is the interest.
- $ P $ is the principal amount (the initial loan amount).
- $ r $ is the annual interest rate (expressed as a decimal).
- $ t $ is the time the money is borrowed for, in years.

### Step 1: Convert the annual interest rate to a decimal
The interest rate is 8%, which is equal to $ 0.08 $ as a decimal.

### Step 2: Convert the time to years
The loan duration is 68 days. Since there are 365 days in a year, the time in years is:

\[
t = \frac{68}{365}
\]

### Step 3: Plug values into the simple interest formula
Now we can plug the values into the formula:

\[
I = 2200 \times 0.08 \times \frac{68}{365}
\]

Let's calculate the result.

\[
I = 2200 \times 0.08 \times 0.1863 \approx 32.83
\]

### Answer:
The simple interest due on the loan is approximately **$32.83**.

Would you like more details or have any questions?

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Here are five related questions:
1. What would the interest be if the loan term was 90 days instead?
2. How would the interest change if the interest rate was 10%?
3. What would the total amount due (principal + interest) be at the end of the loan term?
4. How is simple interest different from compound interest?
5. How would the interest be affected if the loan term was 1 year?

**Tip:** Always convert the time period into years when calculating simple interest, as the interest rate is given annually.

Learn how to calculate the simple interest on a 68-day loan of $2,200 with an annual interest rate of 8%. This problem covers key concepts such as the simple interest formula, converting time to years, and percentage calculations. Suitable for students in Grades 6-8.

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