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Natalka [10]
3 years ago
7

Calculate the total to be repaid on a loan of $4600.00 for 18 months at arate of 5%.​

Mathematics
1 answer:
alekssr [168]3 years ago
8 0

Answer:

$4945

Step-by-step explanation:

the interest on the loan can be found by using this formula:

I = P · r · t     P = principal, r = interest rate, t= time (in years)

I = 4600(.05)(1.5)

I = 345

Total Amount = Principal plus Interest

Total Amount = 4600 + 345 = $4945

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