a math question using financial formulas

Question

Rita wants to buy a new boat but needs money for the down payment. Her parents agree to lend her money at an annual rate of 5%, charged as simple interest. They lend her $4000

 for 3 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 Rita have to pay?

$

(b) What will the total repayment amount be (including interest)?

$

Answer 1

$600 simple interest

$4,600 payment in 3 years