A loan of $\$ 12,000$ is due in 9 months with interest of $12 \%$. Find the total amount that will be due.
A) $\$ 1080$
B) $\$ 12,000$
C) $\$ 13,080$
D) $\$ 10,560$

Question

Quizplus · Accepted Answer

The interest for 9 months is calculated as $\$ 12,000 \times 0.12 \times \frac{9}{12} = \$ 1,080$. Adding this to the principal amount, the total amount due is $\$ 12,000 + \$ 1,080 = \$ 13,080$.

A Loan Of $12,000\$ 12,000$12,000 Is Due in 9 Months with Interest Of

A Loan Of $\$ 12,000$ Is Due in 9 Months with Interest Of