Monday

September 22, 2014

September 22, 2014

Posted by **sabina** on Monday, February 1, 2010 at 9:51am.

10.25%. How much must he repay at the end of four months?

- math -
**drwls**, Monday, February 1, 2010 at 10:37amPrincipal plus interest after four months is:

$2000 + (4/12)*(0.1025)*(2000)

= $2068.33

It could be a bit more if monthly interest was being added to prinipal due. There could also have been late payment penalties. A loan that requires no payment for 4 months is unusual.

**Answer this Question**

**Related Questions**

math - If I had borrowed 1500 for six months at 8.5% annual simple interest. How...

math - A man asks for a loan for $5,000 for 14 days. He receives the loan plus $...

math - Aarthi borrowed $18,500 at 5%p.a from her father tostart her software ...

Business Math - October 17, I borrowed $6,000.00 at a rate of 4%. I have to ...

Math - Jared obtained a simple interest loan for 1200 at a credit union at an ...

math - Norma borrowed $1,800 at an annual interest rate of 11% for three months...

math - Sal borrowed $2,000 for six months at 11.5% simple interest. What was ...

MATH - A customer has a balance of $1,350. Interest is paid at the end of 12 ...

consumer math - Jan borrowed $1,200 at 11.5% interest for three months. How ...

math - Suppose you borrow $4200 at an annual simple interest rate of 10.5% for a...