(A) If $200 is borrowed and the interest after 24 months is $60, what is the annual interest rate for a simple interest loan?

(B) Charlie wants to buy a $100 TV in 3 months. How much should he invest now at 12% simple interest to have the money in 3 months?

(B) Charlie wants to buy a $100 TV in 3 months. How much should he invest now at 12% simple interest to have the money in 3 months?