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

Question

cupoosta [38]

3 years ago

15

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:

Mathematics

2 answers:

Readme [11.4K] · Answer 1 · 2022-10-19T06:15:22+03:00

Readme [11.4K]3 years ago

7 0

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

aksik [14] · Answer 2 · 2022-10-19T04:16:34+03:00

aksik [14]3 years ago

6 0

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$