Plz Show me the steps also, thx*=)
1)Wendy has a deposit in a bank. If the simple interest rate is increased from 8%p.a. to 9.5% p.a. , she will get an additional of $62.5 every month. Find the deposit.
2) Jeffrey borrows $75000 from a finance company at 12% p.a. simple interest rate. He must pay back the amount within 30 days. If the payment is overdue, the interest after 30days will be calculated at a simple interest rate of 20% p.a. How much will he need to pay if he pays back the amount 40 days after borrowing? Give the answer correct to the nearest dollar. (Take 1 year = 365 days. )