Question

South State Loan lent Gino $792 for a year and 9 months. They

charged him 9% interest. How much will he repay?
(1) $961.74 (2) $873
(3) $963
(4) $916.74

Answer 1

(4) $916.74

Explanation:

interest ($71.28) is payed yearly.

for a year and 9 months (1.75), his interest was $124.74

interest ($124.74) + loan amt ($792) = $916.74