Question

I need to know how to do this could someone show me


6. Scott borrowed $250.00 from a relative for 9 months. He agreed to pay compound interest at the rate of 4% per month.
a. How much interest will he pay his relative when he returns the money at the end of the 9 months? Explain how you solve this problem.

b. Suppose Scott has to extend the loan to 10 months rather than 9 months. How much additional interest would he pay for the last month of the loan? Explain how you solve this problem.

Answer 1

I think it would look like this
250.00*9/4%