math

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.

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  1. I think the answer is $5040.00

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  2. How did you get that answer?

  3. 4800/9=533.33x5%=266.665
    4800+240=5040.00

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  4. Thanks.

    The correct way is to use this formula.

    Interest = principal * rate * time

    I = 4800 * 0.05 * 0.75

    I = 180

    4800 + 180 = 4980

  5. thank you!

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  6. You're welcome.

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