+27 scott borrowed $250.00 from a relitive for 9 months. He agreed to pay interest at the rate of 4% per month.
+118687 I don't know what 'relitive' is supposed to be - but
If Scott borrowed $250 and the interest rate is 4% per month (compounded) then after 9 months he will owe
FV=250*(1+0.04)^9 = $${\mathtt{250}}{\mathtt{\,\times\,}}{\left({\mathtt{1}}{\mathtt{\,\small\textbf+\,}}{\mathtt{0.04}}\right)}^{{\mathtt{9}}} = {\mathtt{355.827\: \!953\: \!105\: \!371\: \!136}}$$
that is $355.83
and that is if he doesn't make any payments along the way.
+118687 I don't know what 'relitive' is supposed to be - but
If Scott borrowed $250 and the interest rate is 4% per month (compounded) then after 9 months he will owe
FV=250*(1+0.04)^9 = $${\mathtt{250}}{\mathtt{\,\times\,}}{\left({\mathtt{1}}{\mathtt{\,\small\textbf+\,}}{\mathtt{0.04}}\right)}^{{\mathtt{9}}} = {\mathtt{355.827\: \!953\: \!105\: \!371\: \!136}}$$
that is $355.83
and that is if he doesn't make any payments along the way.
