A bank is offering a simple interest rate of 5 point 2 percent on loans of 40 dollars comma 000 If the loan is repaid in 6 years, what is the total amount repaid?

For simple interest, use I = P × r × t. The interest is $40,000 × 0.052 × 6 = $12,480. Add the interest to the original loan: $40,000 + $12,480 = $52,480, so the total repaid is $52,480.

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