You borrow 1,200 at a rate of 4.5% for a period of 6 months How much will you repay at the end of 6 months?
A. 27
B. 54
C. 1,173
D. 1,227••
Correct me
1. B
2. A
3. A
4. B
5. D
2019 Yep
For those who don't understand the answers for questions 3-5 I'm here to explain it to you.
3. I = prt = 200*.09*1/2
You don't multiply two hundred by nine because your changing the percent 9% into a decimal. To make a percent to a decimal move the "invisible" decimal point of the percent two places to the left. That gives you .09. Now 1/2 and . 5 are basically the same so substitute 1/2 for .5. So to find the right answer for this question just solve 200*.09*.5
4. I know a lot of people were confused about this. When you 20,000*12*3 you got 7,200. Well once you submitted it you got it wrong and your like "What the heck did I do wrong", or you just decided to look up the answers since you couldn't find the answer to question 5 and you saw this page. Well if you notice, the assessment says "all rates are ANNUAL rates" Annual means years so you can't just multiply by 3 since it said 3 MONTHS not 3 years. So instead, we have to find of what percent is 3 months out of a year (12 Months). It doesn't take an expert to realize that it's 25% which = .25 So to find the answer to this equation solver 20,000*.12*.25.
5. Your Probably here because you got 324 and added it 1,200 giving you 1,524. But of course there's no such answer choice. Just like earlier you have to remember that the assessment said that all rates are "ANNUALLY" which means monthly. So what percent is 6 months out of a year (12 Months) Easy Peasy, it's 50% or .50 . So to find the answer solve 1,200*0.045*.5
There you go. I hope this helps you next time when you have similar questions like this.
1. B
2. A
3. A
4. B
5. D
thx @ cheeto
100%
1: B
2: A
3: A
4: B
5: D