Question 1133119
<br>
This is not a problem about compound interest; it is a problem about repaying a loan.<br>
The formula for determining the amount of each payment, A, with a loan amount of P, an annual percentage rate of r, with payments n times per year, for t years, is<br>
{{{A = P((1-(1+r/n)^(-(n*t)))/(r/n))}}}<br>
In this problem, P = 9000; r = 12.8% = 0.128; n = 12; and t = 5.  The amount of each payment is then what the other tutor shows, $203.86.<br>
Then the total amount Hannah will pay over the 60 months is 60 times that payment amount.