Answer: 20
Step-by-step explanation:
80,000 per year....there are 12 months in a year
80,000 / 12 = 6666.67 per month
Answer:
A. $3,984
Step-by-step explanation:
The amount of interest is computed from ...
I = Prt
For the given values, the interest is ...
I = $3600×0.08×(16/12) = $384
Then the total amount that needs to be repaid is ...
Principal + Interest = $3600 +384 = $3,984
_____
The time period is 16 months, so is 16/12 years.
The time periods of the interest rate and "t" in the formula must match. If the interest rate is an annual rate, then "t" is in years. If the interest rate is a monthly rate, then "t" is the number of months.
-1 for apex i just answered this question and got it right
