Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Discover in-depth solutions to your questions from a wide range of experts on our user-friendly Q&A platform. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

Melissa wants to buy a new boat but needs money for the down payment. Her parents agree to lend her money at an annual rate of 4%, charged as simple interest. They lend her $3,000 for 3 years. She makes no payments except the one at the end of that time.