Question

Find the principal and interest if a loan of 12.5% for 9 months is completely paid off by the payment of 1,732.22 at the end of the 9 months

Answer 1

1732.22(1.125)^9

Answer 2

where did you get 1.125 from

Answer 3

you move the decimal to places to the left and add a 1 in front of the new decimal

Answer 4

got it

Answer 5

Move it on on percentage

Answer 6

do i have to convert the months into years

Answer 7

got it thank you.