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Mathematics, 28.04.2021 07:00 alizeleach0123

To go on a summer trip, Brian borrows $800. He makes no payments until the end of 5 years, when he pays off the entire loan. The lender charges simple interest at an annual rate of 6%. Answer the following questions. If necessary, refer to the list of financial formulas.

(a) How much total interest will Brian have to pay?

(b) What will the total repayment amount be (including interest)?

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