Finance question

Question

If some spends 2,852 on metal roofing and 1,800 on labor and took out a loan to cover the cost at 8.75 percent for 6 months how much was the loan

Answer 1

Total cost = 2852 +1880 = 4652

 

A = P + PIR  

( Net payable after 6 months )

= 4652 +( 4652 * 8.75 * 0.5 ) 100

 

This will be the amount payable after six months