Georgie borrows £12000 for a luxury cruise The simple interest rate is 7.5% p.a. Calculate her monthly repayment if she ta

Question

Georgie borrows £12000 for a luxury cruise
The simple interest rate is 7.5% p.a.
Calculate her monthly repayment
if she takes the loan for 3 years.

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Vân Khánh 4 weeks 2021-08-19T12:54:59+00:00 1 Answers 0 views 0

Answers ( )

    0
    2021-08-19T12:56:07+00:00

    Answer:

    $14,700

    Step-by-step explanation:

    interest rate is $900 per year (12000×.075)

    $900 × 3 years = $2,700

    add $2,700 to $12,000 (amount borrowed)

    total is $14,700

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