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please show work for example 1 & 2 Example 1: Bob has agreed to lend Peter $5,000 for five years at a simple-interest rate of
please show work for example 1 & 2
Example 1: Bob has agreed to lend Peter $5,000 for five years at a simple-interest rate of 8% a year. How much interest will Bob receive from the loan? How much will Peter pay Bob at the end of five years? Example 2: Bob has agreed to lend Peter $5,000 for five years at an interest rate of 8% a year. How much will Peter pay Bob at the end of five years Step by Step Solution
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