Problem
Sam Boilermaker borrows $4000 from his parents for his final year of college. He agrees to repay it at 7% interest in one payment 3 years later. How much does he repay? How much of this is interest and how much is principal?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.