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prohojiy [21]
3 years ago
12

A college student borrows $2,000 for 9 months to pay for a semester of school. If the interest is $123.75, find the monthly paym

ent
Mathematics
1 answer:
juin [17]3 years ago
3 0

Total amount borrowed by college student = $ 2,000

Total interest paid = $123.75

Total amount the student has to pay = $2,000 + $123.75

= $2123.75

Total duration for which the amount is borrowed = 9 months

Total amount he has to pay back in 1 month = $2123.75 \div 9

= $235.9

Therefore, Amount he has to pay in 1 month = $235.9

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