Question

Shaun borrowed $600 from the bank at 12% interest for 12 months. Including interest, how much did he have to repay?

Answer 1

iz zat simpel interest or KOMPOUNE???

600$ at 12% for 1 yeer...simpel interest=0.12*600=72$

for kompound interest, yu du...[1+ (0.12)/12]^12

yu get 676.10$