Question 1031192: Someone owes me money
$90.00
I want to charge interest, it has been four months now so I was thinking that should be 30%
How much does he owe me now?
Found 2 solutions by Bakr.R, josmiceli:
Answer by Bakr.R(8)   (Show Source):
You can put this solution on YOUR website! Having said the word 'interest", from an algebraic perspective, I'm assuming you're having an interest of 30% per month, a total of 4 months,
interest being 30% for each month: a you would have an interest of 90*0.3*4=108
108+90=198, he would owe you 198 dollars.
I may be mistaken, since 30% is a high interest rate, maybe you just want to add a 30% interest on the total scale (just the total amount of money), that would just be 90*1.3= 117 dollars, a thirty percent increase, but if you're adding interest of 30% PER MONTH, then he does owe you 198 dollars. So, the total is based on your decision.
Answer by josmiceli(19441)  (Show Source):
You can put this solution on YOUR website! 30% means they owe you $3 extra for every $10
you lent them
You lent them 9*10, so they owe 3*9 = 27 extra
making the total 90 + 27 = $117
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Or just multiply:
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