Essay
RGI Services has just renovated their local warehouse. In order to do so they borrowed $ 20,000 at 5%, which is required to be repaid in two years.
Instructions
a) How much simple interest will RGI have to pay? Show your calculations.
b) If the loan document indicated compound interest, what would the total interest be?
Correct Answer:
Verified
Correct Answer:
Verified
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