Fred needs to take out a loan, but doesnt know exactly how much money he needs to borrow yet. He knows that if he does take out a loan, hell have to pay simple interest on it, where for every month he doesnt pay it back, the amount he has to pay back goes up by 5% (even if he doesnt borrow it for a full month, hell still have to pay back the original amount he borrowed.) Note: Money Fred has to pay back after t months = A; A = P*(1 + rt) where r is the interest rate, P is the initial amount he borrowed Fred does know two things though: He knows he needs to borrow the money for exactly 1 year, and that he wants the amount of money he borrows to be 0.625 times the amount he ends up having to pay back. (Freds mind works in mysterious ways... ) How much money should Fred borrow to ensure this? Can he borrow any amount, one particular amount, or no amount, and how do you know?