Question

Use the formula A = P(1 + rt) to find the indicated quantity. 1) Allan borrowed $3900 from his father to buy a car. He repaid him after 6 months with interest of 12% per year. Find the total amount he repaid. A) $234.00 B) $4095.00 C) $4134.00 D) $4368.00

Name: Use the formula A = P(1 + rt) to find the indicated quantity. 1) Allan borrowed 3900 from his father to buy a car. He repaid him after 6 months with interest of 12% per year. Find the total amount he repaid. A) $234.00 B) $4095.00 C) $4134.00 D) $4368.00
Uploaded: 2023-09-12T00:45:26-08:00
Duration: 1 min 43 s
Channel: Adi S
Description: Use the formula A = P(1 + rt) to find the indicated quantity. 1) Allan borrowed 3900 from his father to buy a car. He repaid him after 6 months with interest of 12% per year. Find the total amount he repaid. A) $234.00 B) $4095.00 C) $4134.00 D) $4368.00

          Use the formula A = P(1 + rt) to find the indicated quantity. 1) Allan borrowed $3900 from his father to buy a car. He repaid him after 6 months with interest of 12% per year. Find the total amount he repaid. A) $234.00 B) $4095.00 C) $4134.00 D) $4368.00

Use the formula A = P(1 + rt) to find the indicated quantity. 1) Allan borrowed 3900 from his father to buy a car. He repaid him after 6 months with interest of 12% per year. Find the total amount he repaid. A) $234.00 B) $4095.00 C) $4134.00 D) $4368.00

Added by Kelly B.

Calculus: Early Transcendentals

James Stewart 8th Edition

Instant Answer

Solved by Expert Adi S

09/12/2023

Step 1

2) The interest rate is 12% per year. 3) We need to find the total amount Allan repaid his father after one month. First, we need to find the monthly interest rate. Since there are 12 months in a year, we can divide the annual interest rate by 12: Monthly Show more…

Show all steps

Thanks for your feedback!

Use the formula to find the indicated quantity. Allan borrowed $3900 from his father to buy a car. He repaid him after 6 months with interest of 12% per year. Find the total amount he repaid.