Solve the problem Assume that simple interest is being calcu

Solve the problem. Assume that simple interest is being calculated. Round your answer to the nearest cent. 1) Olivia borrowed $8,500 from her bank. She repaid the loan after 18 months with 4.8% simple interest. Find the total amount Olivia repaid the bank. (6 points)

1) Total amount Olivia repaid the bank = 8500 + 8500*4.8%*18/12 =

Total amount Olivia repaid the bank = 5,145.60