Question: John borrows $250 for 5 years at a simple interest rate of 8% . How much interest must he pay? What is the total amount

John borrows $250 for 5 years at a simple interest rate of 8% . How much interest must he pay? What is the total amount that must be repaid?

John borrows $250 for 5 years at a simple interest rate of

N 1(%): PV: Pmt FV: PpY CpY

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