3. 7 points. Your friend let you borrow $400 when you both went on a trip...

Question

Question

Answer 1

Answer #1

The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.

Amount 3 Let interest rate = % 5 Amount to be repaid = amount borrowed *(1+i)^2 5 500 = 400*(1+i%)^2 - 500/400 = (1+i)^2 31.2

Answer 2

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