Mathematics, 25.12.2020 06:00 niescarlosj

To go on a summer trip, Ravi borrows $800. He makes no payments until the end of 3 years, when he pays off the entire loan. The lender charges simple interest at an annual rate of 5%. Answer the following questions. If necessary, refer to the list of financial formulas. (a) How much total interest will Ravi have to pay? Х 5 ? s) (b) What will the total repayment amount be (including interest)?

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To go on a summer trip, Ravi borrows $800. He makes no payments until the end of 3 years, when he pa...

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