cardo borrows money to buy a motorcycle. He will pay to loan by making monthly payment of 1,500 per month for the next 24 months at an interest rate of 9% per year compounded monthly how much did cardo borrow ? how much interest does cardo pay ?
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Step-by-step explanation:
Principle= 36000
Formulae of amount= P(1+(R/100))^time
36000(1+(9/100))^24
36000(109/100)^24
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