Jimmy takes a loan of 10,000$ at 12% per year as rate of interest . Find the amount, he will be required to pay after 1 year to
settle the loan .
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2 answers:
Answer:
1200 I THINK
Step-by-step explanation:
Answer :-
Step by step explanation :-
Here,
- Principal = 10,000
- Time = 1 year
- rate = 12 %
<u>The </u><u>intrest</u><u> </u><u>payable </u><u>on </u><u>1</u><u>0</u><u>0</u><u>$</u><u> </u><u>for </u><u>1</u><u> </u><u>year</u> = 12 $
<u>The </u><u>interest</u><u> </u><u>payable</u><u> </u><u>on </u><u>1</u><u>0</u><u>,</u><u>0</u><u>0</u><u>0</u><u>$</u><u> </u><u>borrowed</u><u> </u><u>for </u><u>1</u><u> </u><u>year</u>
<u>so,</u><u> </u><u>at </u><u>the </u><u>eand </u><u>of </u><u>the </u><u>year </u><u>,</u><u> </u><u>he </u><u>has </u><u>to </u><u>give </u><u>an </u><u>amount</u><u> </u><u>of </u><u>$</u><u> </u><u>(</u><u> </u><u>1</u><u>0</u><u>,</u><u>0</u><u>0</u><u>0</u><u> </u><u>+</u><u> </u><u>1</u><u>2</u><u>0</u><u>0</u><u> </u><u>)</u><u> </u>
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thats the answer just look at the picture :)
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