PLEASE URGENT: 30 POINTS GIVEN
Jen wants to buy a new house but needs money for the down payment. Her parents agree to lend her money at an annual rate of 4%, charged as simple interest. They lend her $5000 for 6 years. She makes no payments except the one at the end of that time.
Answer the following questions. If necessary, refer to the list of financial formulas.
(a) How much total interest will Jen have to pay?
$
(b) What will the total repayment amount be (including interest)?
$