Owen has a loan for $3700 at a rate of 5% annually. if the interest is not compounded, what is the total amount of repayment if the loan is for 7 years? a) $1295.00 b) $3700.00 c) $3885.00 d) $4995.00

The total amount of repayment is $4995 (option D).

Step-by-step explanation:

Hi, to solve this problem we have to calculate the value of the interest for each year.

So:

We have calculated the value of the interest for each year. The next step is to multiply by 7 years.

Finally, we simply add the result to the value of the loan:

The total amount of repayment is $4995 (option D).

Feel free to ask for more if it´s necessary or if you did not understand something.

ur mom

step-by-step explanation:

the answer is a.

step-by-step explanation:

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