Question

You borrow $1,200 at a rate of 4.5% for a period of 6 months. How much will you repay at the end of the 6 months?

1. $27
2. $54
3. $1,173
4. $1,227

Answer 1

I believe it's $54.

Answer 2

@luisdabroski

Answer 3

@robert200019

Answer 4

@secret66

Answer 5

I'm pretty sure you have o repay more than you borrow :)

Answer 6

otherwise we would borrow money a lot more often :)

Answer 7

@inkyvoyd can you help me then?

Answer 8

hmm. you borrowed 1200. you have to return more than 1200. which of those numbers makes sense then?

Answer 9

D?

Answer 10

yeah, I would say.

Answer 11

amount=principal (1+4.5/200)^1=1200(204.5/200)
=1200*2045/2000
=12*2045/20=1227.00rs