$64000 is borrowed at 8.2% p.a. simple interest for 5 years.

a) what is the total amount over the 5 years?

b) if repayments are made monthly, how much would each payment need to be?

To calculate simple interest, you can use the formula:

Interest = Principal x Rate x Time

Now let's answer each question step by step:

a) To find the total amount over 5 years, we need to calculate the interest and add it to the principal. The formula for calculating total amount is:

Total Amount = Principal + Interest

Given:
Principal (P) = $64,000
Rate (R) = 8.2% per annum
Time (T) = 5 years

First, let's calculate the interest:
Interest = Principal x Rate x Time
Interest = $64,000 x (8.2/100) x 5

Now, plug in the values:
Interest = $64,000 x 0.082 x 5

Calculate the interest:
Interest = $26,400

Now, let's find the total amount:
Total Amount = Principal + Interest
Total Amount = $64,000 + $26,400

Final answer:
The total amount over 5 years would be $90,400.

b) To calculate the monthly payment, we will divide the total amount (including interest) over 5 years by 60 months (5 years x 12 months).

Monthly Payment = Total Amount / Number of Months
Monthly Payment = $90,400 / 60

Calculate the monthly payment:
Monthly Payment = $1,506.67 (approximately)

Final answer:
If repayments are made monthly, each payment would need to be approximately $1,506.67.