1) Cathy borrows $3280 at 0.3% simple interest per month. When Cathy pays the loan back 9 years later, what is the total amount that Cathy ends up repaying? Answer:
2 answers:
I worked out the percentage of 3280! then i multiplied that by the months in the year (12) then i multiplied that answer by 9 then i added that answer to 3280 and my final answer was 13864
Answer:
Step-by-step explanation:
we calculate how much 0.3% is from 3280
y=3280*0.3/100=9.84$
months in 9y
12*9=108
the interest of 9y
108y=1062.72$
the sum of interest + the money borrowed
1062.72+3280=4342.72$
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