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To go on a summer trip Henry borrows 700 He makes no payments until the...

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Algebra

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To go on a summer trip Henry borrows 700 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 3 Answer the following questions If necessary refer to the list of financial formulas a How much total interest will Henry have to pay b What will the total repayment amount be including interest X S

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