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Raina wants to buy a new car but needs money for the down payment. Her parents agree to lend her money at an annual
Raina wants to buy a new car but needs money for the down payment. Her parents agree to lend her money at an annual rate of 5%, charged as simple interest. They lend her $2000 for 5 years. She makes no payments except the one at the end of that time. Answer the following questions. (a) How much total interest will Raina have to pay? X G (b) What will the total repayment amount be (including interest)?
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