Fine the interest and the amount repaid. round to the nearest cent when necessary principal rate. time 525.00 12% 14 months what is the interest and the amount?

The Amount  = 599..23 unit And Compound Interest = 74.23 unit

Step-by-step explanation:

Given The Principal = 525 unit

The rate of interest = 12%

The time period = 14 months = (1 + ( ) years = = 1.167  years

Now from compound interest method

Amount = principal

Amount = 525

Amount = 525 ( 1.141 )

Amount = 599.23 unit

So, Compound Interest = Amount - principal

Or, CI = 599.23 - 525

Or, CI = 74.23 unit

Hence the Amount  = 599..23 unit And Compound Interest = 74.23 unit

Answer