Question

Amy took $2000.00simple interest at a rate of 5% per annum for 9 months calculate her monthly instalment

Answer 1

Answer:

si= p*r*t/100

then

2000*5*9/100*12

100*9/12

900/12

Amount= 2000+ 900/12

= 2000*12+900/12

= 24000+900/12

= 24900/12

Finally monthly installment or monthly payment will be = 24900/12*9

Do the final calculation u will surely get the answer correct

If yearly then 9 months = 9/12 year