1. Calculating the interest amount I want to buy a new bicycle to deliver newspapers. I do not have enough money but a friend offers to lend me the money. I agree to repay the money after 1 year with interest of 10% per year. I borrow R1 500. a. How much interest must I pay? b. What will be the total amount that I need to repay to my friend? c. If I decide to repay him weekly, what will my weekly instalment be? d. If the interest rate was 12% instead of 10%, how much more would I have to pay for my bicycle
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