Question

A family borrows money for a rainforest tour. The simple annual interest rate is 12%. The loan is paid after 3 months. What is the total amount paid for the tour?

Answer 1

Answer:

1,266.90

Step-by-step explanation:

1. 940 + 170 + 120 = 1,230

2. 1,230 x 0.12 x 0.25 = 36.9

3. 36.9 + 1,230 = 1,266.90 (FINAL ANSWER)