Answer: $1,266.697.
Step-by-step explanation:
given data:
loan amount = $7500
duration = 6 months
interest rate = 2.5%
Solution:
[tex]A = P \frac{i(1+i)^{n} }{(1+i)^{n} -1}[/tex]
i = [tex]\frac{2.5}{100} \\= 0.025\\\frac{0.025}{6} \\= 0.004167[/tex]
=
= [tex]7500(\frac{0.00427}{0.0253} )[/tex]
= [tex]7500(0.169)[/tex]
= $1,266.697
