Deanna and her sister Molly borrowed $1,600 from their mother. Their mother only charged 3% ordinary simple interest and the loan was for two years. Compute the total interest and principal that the sisters need to repay their mother. (Use a 360-day year.)

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The Answer of Deanna and her sister Molly borrowed $1,600 from their mother. Their mother only charged 3% ordinary simple interest and the loan was for two years. Compute the total interest and principal that the sisters need to repay their mother. (Use a 360-day year.)

Deanna and Her Sister Molly Borrowed $1,600 from Their Mother