Register
You borrow $200 from a relative for six months. You agree to pay compound interest at the rate of 1% per month.
183k views
3 votes
You borrow $200 from a relative for six months. You agree to pay compound interest at

the rate of 1% per month.

User Jirson Tavera
by
7.8k points

1 Answer

3 votes
A=200×(1+0.01)^(6)
A=212.30
Interest paid
I=212.30-200=12.30
User Tunnelvisie
by
8.3k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Write words to match the expression. 24- ( 6+3)
Link Copied!