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3 years ago

Gyuhun takes out a loan of $1500 to

Mathematics

1 answer:

Sidana [21]3 years ago

3 0

Answer:

$77.5 per month.

Step-by-step explanation:

Gyuhun took a loan of $1500 which will be repaid in two years.

So, each month he has to pay the principal of $ $\frac{1500}{2 \times 12}= 62.5$ .

Now, he has to give the interest also per month.

The loan is charged at 12% per year i.e 1% per month.

Therefore, the total charges per month will be 1500 × 0.01 = $15

Therefore, each month Gyuhun has to repay $(62.5 + 15) = $77.5. (Answer)

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