Solve the problem. Assume that simple interest is being calculated in each case. Round your answer to the nearest cent if necessary.Allan borrowed $4900 from his father to buy a car. He repaid him after 8 months with interest of 5% per year. Find the total amount he repaid.
A. $5145.00
B. $5042.92
C. $163.33
D. $5063.33
Answer: D
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