Borrowed 82069

You borrowed €2000 for 3 months. What amount must you pay back if the lender charges a 15% interest rate per annum?

Correct answer:

x =  2075 eur

Step-by-step explanation:

a=2000 eur n=3/12=41=0.25 p=15%=10015=203=0.15  r=1+p n=1+0.15 0.25=8083=1.0375  x=a r=2000 1.0375=2075 eur

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