Question

mr thomas borowwed $1200 from a bank for 90 days at a 12 1/3% annual interest. how much did he pay?

Answer 1

Answer:

Step-by-step explanation:

I=prt/100

p=1200

r=37/3%=12.33%

t=90/365=0.2466year

I=1200*12.33*0.2466/100

I=$36.49

Amount paid=interest+principal

Amount paid=36.49+1200

Amount paid=$1236.49