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Leila wants to buy a new house but needs money for the down payment. Her parents agree to lend her money at an annual rate
Leila wants to buy a new house but needs money for the down payment. Her parents agree to lend her money at an annual rate of charged as simple interest. They lend her $ for years. She makes no payments except the one at the end of that time.
Answer the following questions. If necessary, refer to the list of financial formulas.
a How much total interest will Leila have to pay?
$prod
b What will the total repayment amount be including interest
$
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