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PLEASE HELP, ITS URGENT!!

Joaquin has agreed to lend his younger brother $45 so that he can buy a new tank for his pet lizard.

a) Joaquin is charging his brother 2% simple interest per month. If his brother pays him back in 6 months, how much will Joaquin get back?

b) If Joaquin’s brother instead borrowed the money from a bank at 2% compound interest per month, how much would he have to pay the bank at the end of 6 months?

User IStornZ
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1 Answer

4 votes

Answer:

Explanation:

A) $50.40

B) $50.68

User Zhang Buzz
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