You borrow $200 from a relative for six months. You agree to pay compound interest at the rate of 1% per month. How much interest will you pay your relative when you return the money at the end of the

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asked Nov 21, 2024 19.4k views

5 votes

You borrow $200 from a relative for six months. You agree to pay compound interest at

the rate of 1% per month. How much interest will you pay your relative when you return the
money at the end of the six months?
a.
$201.00
c.
$12.30
b.
$11.66
d.
$210.00