$16,000 is borrowed from a bank over a period of 4 years with a simple interest rate of 9% . How much is paid back altogether?
1 answer:
You might be interested in
Fractions can be converted to decimals and vice versa.
<em>The decimal equivalent of the fraction of months with 31 days is 0.583</em>
Given:
<em /><em> --- months in a year</em>
<em /><em> --- months with 31 days</em>
<em />
The fraction (n) of months with 31 days is:
So, we have:
The decimal equivalent is:
Hence, (c) is correct.
Read more about fractions and decimals at: