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Ugo [173]
4 years ago
10

​2.​A cellphone rental business borrows $1,500 to expand the business to a neighboring town. The owner has to make equal monthly

payments for one year of $150 each. ​What is the total loan repayment amount? ​ ​How much interest does the owner pay? ​ ​What is the average annual percentage rate for this loan?
Mathematics
1 answer:
Schach [20]4 years ago
4 0

Answer:

the repayment amount would be $1,800.

he pays 300 dollars more than he borrowed.

he pays 2.7% each month to repay what he borrowed.

Step-by-step explanation:

150 x 12 = 1,800.

150% of 1,800 = 2.7%

hope this helps!

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