Posted by **Jennifer** on Tuesday, June 24, 2014 at 7:08pm.

Allan borrowed $4800 from his father to buy a car. He repaid him after 9 months with interest of 5% per year. Find the total amount he repaid.

- math-help -
**Jennifer**, Tuesday, June 24, 2014 at 7:28pm
I think the answer is $5040.00

- math -
**Ms. Sue**, Tuesday, June 24, 2014 at 7:33pm
How did you get that answer?

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**Jennifer**, Tuesday, June 24, 2014 at 7:47pm
4800/9=533.33x5%=266.665

4800+240=5040.00

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**Ms. Sue**, Tuesday, June 24, 2014 at 8:00pm
Thanks.

The correct way is to use this formula.

Interest = principal * rate * time

I = 4800 * 0.05 * 0.75

I = 180

4800 + 180 = 4980

- math -
**Jennifer**, Tuesday, June 24, 2014 at 8:09pm
thank you!

- math -
**Ms. Sue**, Tuesday, June 24, 2014 at 8:24pm
You're welcome.

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