Please help I’d appreciate it I don’t understand thank you
1 answer:
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Correction is the question: 6% = 6.5%
Answer:
Amount to be repaid is $335798.833
Step-by-step explanation:
Amount of loan = $332,200
Rate of interest = 6.5%
time = 2months = 2/12 = 1/6 years
The amount of interest is simple interest
SI =
=
= $3598.833
Final amount to be repaid = 332200+ 3598.833
= $335798.833