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4 years ago

8

A family borrows money for a rainforest tour. The simple annual interest rate is 12%. The loan is paid after 3 months. What is t

he total amount paid for the tour?

1 answer:

ser-zykov [4K]4 years ago

6 0

Answer:

A = 1.36P

Step-by-step explanation:

A = P(1 + rt)

If the money borrowed (principal) is P then the amount paid after 3 years is;

A = P(1 + 0.12(3))

A = P(1 + 0.36)

A = 1.36P

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