Step 4: solving simple interest problems that involve finding a total amount
a) the shoe store manager borrowed $17,000.00 from the bank to purchase 1000 pairs
of shoes. the bank charges a simple interest rate of 5% per year on a loan to a
business. if it takes 3 years to pay back the loan and interest, what is the total
amount of interest that the shoe store will pay? (2 points) and the second part is what is the total amount including interest that the shoe store must pay on the loan the third part is how could you use estimation to determine if your answer is reasonable or not