To go on a summer trip, Jim borrows $700. He makes no payments until the end of 3 years, when he pays off the entire loan. The lender charges simple interest at an annual rate of 4%. Answer the following questions. If necessary, refer to the list of financial formulas. (a) How much total interest will Jim have to pay? $0 (b) What will the total repayment amount be (including interest)? X

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A: Thanks for the question :)And your upvote will be really appreciable ;)

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