Mr. Heritage starts a new business, and to get it started he borrows $2 500 from a bank. If the loan is for two years, and the amount of interest for those two years is $175, what SIMPLE interest rate was he charged? (SIMPLE INTEREST: the principle and interest calculations dont change- they stay the same for the entire two year period!) BONUS- if he pays off the whole loan in the two years, what would his monthly bill be, (DON'T FORGET TO INCLUDE THE INTEREST CHARGE FOR HIS MONTHLY BILLS!!! YOU CAN ROUND YOUR CALCULATION TO THE NEAREST HUNDRETH- THAT IS, TO TWO DECIMAL PLACES...)​