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Mathematics, 25.11.2021 07:40 2965276513

1.Erve borrows money to buy a new PS5 for $400 at a simple interest rate of 5%. He writes the equation t = 400 + (0.5 x 400) to represent the amount of money he will need to pay back after one year. Is Erve’s equation correct? Explain your answer and determine how much money Erve will need to pay back after one year.

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