You are asked to send out an important letter to your business associates in Japan, and it must be sent within the next 90 minutes. You know it will take you about 30 minutes to gather all the information you will need to include in the letter. This will leave you one hour for prewriting, drafting, and revising. Because this letter is critical and will influence all future business with your Japanese associates, you know that you will use the entire hour to write the letter.

Jamie is saving for a trip to europe. she has an existing savings account that earns 3 percent annual interest and has a current balance of $4,200. jamie doesn’t want to use her current savings for vacation, so she decides to borrow the $1,600 she needs for travel expenses. she will repay the loan in exactly one year. the annual interest rate is 6 percent. a. if jamie were to withdraw the $1,600 from her savings account to finance the trip, how much interest would she forgo? .b. if jamie borrows the $1,600 how much will she pay in interest? c. how much does the trip cost her if she borrows rather than dip into her savings?