Question

Odwa borrowed R500 from Luyanda four months ago and R700 nine months ago. He wants to liquidate these obligations with a single payment in 12 months' time from now. If a simple interest rate of 11% per year, is charged on all the amounts, the amount he will pay Luyanda in 12 months' time from now, is
A. R2113
B. 1871
C. 1408.08
D. 3697​

Answer 1

Answer:

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Step-by-step explanation:

Odwa borrowed R500 from Luyanda four months ago and R700 nine months ago. He wants to liquidate these obligations with a single payment in 12 months' time from now. If a simple interest rate of 11% per year, is charged on all the amounts, the amount he will pay Luyanda in 12 months' time from now, is

A. R2113

B. 1871

C. 1408.08

D. 3697