Sean wants to go on holiday. He is going to get a loan of £ 720 to help pay for the holiday. Sean will have to pay back the £ 720 plus interest of 15 %. He will pay this back in 12 equal monthly installments. How much money will Sean pay back each month?
Sean is lent £720. He has to pay back all of this, plus the extra 15% interest. So first you have to find 15% of £720:
10% is £72,
5% is £36,
therefore 15% is £72 + £36 = £108.
The total amount he has to pay back over 12 months is £720 + £108 = £828.
The amount he has to pay per month is £828/12 = £69
EL
Related Maths GCSE answers
All answers ▸Triangle ABC has perimeter 20 cm. AB = 7 cm. BC = 4 cm. By calculation, deduce whether triangle ABC is a right-angled triangle.
How do I rearrange this equation for x? y=(x+2)/(3x-1) +2
In an office there are twice as many females as males. 1/4 of the females wear glasses. 3/8 of the males wear glasses. 84 people in the office wear glasses. Work out the number of people in the office.
Find the inverse function of f(x)=5/(x-4)