Mathematics, 13.06.2021 01:00 diamontehunter1632
Pamela borrows $2,500 at 12% per annum simple interest, for 2 years. In addition, a fee of $200 is charged for processing the loan. Calculate:
i) the sum of money, which she will have to repay the bank of 2 years.
ii) the profit percent the bank makes in the loan.
iii) the monthly installments, if she is required to repay the loan in 24 monthly installments.
Answers: 2
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Ijust need to see how to do this. so you don’t have to answer all of them just a step by step explanation of one.
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Pamela borrows $2,500 at 12% per annum simple interest, for 2 years. In addition, a fee of $200 is c...
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