Question

A $12,500 loan for 3 years, compounded at an annual interest rate of 18%.
What is the total amount?

Answer 1

Answer:

Step-by-step explanation:

at the rate of 12%

he brought every month 12× 12500

=150000

Amount =p(1+r/100)n

150000(1+12/100)¹

150000(112/100)

150000×112/100)

1500×112

168000

therefore end of the year Amount loan repaid to be Rs 168000

Answer 2

Answer:16500

Step-by-step explanation:12•12500