1) Scott invested in a savings bond for 3 years and was paid simple interest at an annual rate of 3%. The total interest that he earned was $180 . How much did he invest?

Salma took out a $3000 loan for 11 months and was charged simple interest.
The total interest she paid on the loan was $253 .

As a percentage, what was the annual interest rate of Salma's loan?
Do not round any intermediate computations. If necessary, refer to the list of financial formulas.