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Question 2
Garcia borrowed $4,000 from his cousin
Susan at the rate of 8% per annum. He
repaid the amount after two years. How
much did he repay?
A. $640
B. $6,640
C. $4,640
D. $3,360

Respuesta :

mhanifa

Answer:

  • C. $4640

Step-by-step explanation:

Given:

  • Borrowed amount P = $4000
  • Interest rate r = 8% = 0.08
  • Time t = 2 years

Amount to repay:

  • A = P(1 + rt)
  • A = 4000(1 + 0.08*2) = 4000*1.16 = 4640

Correct choice is C

lilking2k

Answer:

$4,640

Step-by-step explanation:

because the calculation would equal that amount.