A woman borrows $3000 at 16% on August 15th. She pays $600 on September 15th , $800 on October 15th , $600 on December 15th. If she makes a final settlement on February 15th of the following year, How much will she pay? .

#Please explain before solution

• But the time (t) in this problem will be daily ( mean dealing with days ) not months , such as August 15th ( in this date the time of borrowing money(30000) started from 16th August. .etc)
• 10 years agoHelpfull: Yes(2) No(1)
• Any one can solve it please?
• 10 years agoHelpfull: Yes(1) No(1)
• Sorry, (3000)*
  
  Please help
• 10 years agoHelpfull: Yes(1) No(1)
• $3000 * 16/100 = 480 it means every month she have to give $480 so she have to give this $480 upto 6 months so 480 * 6= 2880
  now she had already given 600+ 800+ 600= 2000
  so now 2880-2000 = 880
  so answer is that she have to give 880 rs extra
• 10 years agoHelpfull: Yes(0) No(0)
• sorry for the above wrong answer actually in the question it is asking that she have to settle the whole money of the year so it is like this
  3000 *16/100 = 480
  480 *12= 5760
  and she had already given 600+ 800 + 600= 2000
  so 5760 - 2000 = 3760
  so the answer is she have to give $ 3760 only.
  
  (if i am wrong then do comment my mistakes) :)
  
• 10 years agoHelpfull: Yes(0) No(0)
• Sorry, I mean that the borrowing of money (3000) started from the day 15th of august so the time here is daily not monthly.
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• Is the interest on the amount monthly or yearly???Please mention if u know??
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• Yearly. .. but first u have to convert time(which is daily) to years.
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• Thank you for u effort
  The right answer is 1141,4 $
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