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2015-08-28T15:44:08+08:00

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Formula: A = P (1 + rt)
principal : P4000 , rate : 16 /100 = 0.16, time : since it will repaid in 9 months so, divide 12 months (1 year) to 9 months. Therefore, the time is 0.75 year
= > A = P4000 ( 1 + (0.16) (.75) )
= > A = P 4000 ( 1.12 )
= > A = P 4,480.00
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