Question

PLS HELP ASAP!!

2. Sara borrowed $5,000 from her
father for 1 year at a simple interest
rate of 12.5% per year. Over a two-
year period, she made equal
monthly payments to pay back the
loan plus the interest on the loan.
About how much was her monthly
payment?
A. $520.83
B. $468.75
C. $260.42
D. $234.38

Answer 1

D

Explanation:

`A = P(1 + (r)/(n))^(nt)\\`

[5000* (1+0.125)]/12 =234.375, rounds up to $234.38