Jill Kramer borrowed $25,000 to pay for a startup business. Jill must repay the loan at the

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Jill Kramer borrowed $25,000 to pay for a startup business. Jill must repay the loan at the end of five months in one payment with a 6 percent simple interest rate.
a. What is the total amount that Jill must repay in five months?
b. How much interest does Jill repay?
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Entrepreneurial Finance

ISBN: 978-0133140514

6th edition

Authors: Philip J. Adelman; Alan M. Marks

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