2. Hugh and Laurie Fry borrowed $5000 from their credit union to remodel their dining room....

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2. Hugh and Laurie Fry borrowed $5000 from their credit union to remodel their dining room. The annual simple interest rate was 5.25%, and the length of the loan was 2 years. a. How much interest did the couple pay for the loan? I= (5.000 5.25.3/100 787.50/100) (I=6,300 26.200 24 030,000 b. Determine the amount the couple paid to the credit union on the date of maturity of the loan. 6,300 + 5,000 = 11,300 2. Hugh and Laurie Fry borrowed $5000 from their credit union to remodel their dining room. The annual simple interest rate was 5.25%, and the length of the loan was 2 years. a. How much interest did the couple pay for the loan? I= (5.000 5.25.3/100 787.50/100) (I=6,300 26.200 24 030,000 b. Determine the amount the couple paid to the credit union on the date of maturity of the loan. 6,300 + 5,000 = 11,300