To solve the problem using simple interest, we will use the Future Value for Simple Interest formula:

$A = P(1 + rt)$

Where:

• $A$ is the total amount you will pay to the lending company (Future Value).
• $P = 2900$ is the principal amount (the amount borrowed).
• $r = 11.27\% = 0.1127$ is the annual interest rate (as a decimal).
• $t = 33$ is the time period in years.

Now, substitute the values into the formula:

$A = 2900(1 + 0.1127 \times 33)$

Let's calculate the total amount you will pay at the end of 33 years.The total amount you will pay to the lending company at the end of 33 years is approximately $13,685.39.

Would you like more details or have any questions?

Here are 5 related questions to expand on this topic:

1. What is the total interest paid over the 33 years?
2. How would the amount change if the interest rate were 9% instead of 11.27%?
3. What if the loan term was reduced to 20 years—how much would you pay then?
4. How does simple interest compare to compound interest in this situation?
5. What happens if you repay the loan early, say after 10 years?

Tip: When dealing with simple interest loans, the interest amount remains the same regardless of when you pay during the loan term.