Everyday Mathematics?
Question: Meijun borrowed $ 3,600 from a bank at the level of interest of 15% per year compounded monthly. She repaid $ 1,200 by the end of the first month, $ 1,300 at the end of the month, b, and made a final settlement to the end of the third month.
How was it justified the bank after the second payment?
What was the final settlement?
Answer: First, she made a bad investment is that it had to repair 15%, compounded monthly.
5475.15 is what it is going to end because of the bank if it pays in 3 months.
least 1200 that it paid the first month = 4275.15
least 1300 months back = 29975.15
So she still has the bank that much.

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