Answered

Makakuha ng eksaktong mga sagot sa iyong mga tanong sa IDNStudy.com. Ang aming mga eksperto ay nagbibigay ng mabilis at eksaktong sagot upang tulungan kang maunawaan at malutas ang anumang problema.

If P4000 borrowed at an annual interest rate of 16% has to be repaid in 9 monthe, find the interest rate and amount due

Sagot :

Formula: A = P (1 + rt)
principal : P4000 , rate : 16 /100 = 0.16, time : since it will repaid in 9 months so, divide 12 months (1 year) to 9 months. Therefore, the time is 0.75 year
= > A = P4000 ( 1 + (0.16) (.75) )
= > A = P 4000 ( 1.12 )
= > A = P 4,480.00