finding the total amount

pumpkinslion

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Apr 14, 2006
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finding the total amount due on a loan, principal if $1780,rate 12% and the time is 6 months?
 
pumpkinslion said:
finding the total amount due on a loan, principal if $1780,rate 12% and the time is 6 months?

1780 * 1.06 if simple interest (not compounding) : .06 = .12/2

1780 * 1.01^6 if compounding monthly : .01 = .12/12
 
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