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April 19, 2014

April 19, 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.

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