Mandy owes Benedict $100. They agreed to have monthly interest of 2%. If Mandy was able to pay it after 3 months, how much should she give to Benedict?
How much is the monthly interest? ** The monthly interest is $100 x 2/100 = $<<100*2/100=2>>2.
How much is the total interest? ** After 3 months, the total interest amount to $2 x 3 = $<<2*3=6>>6.
How much should Mandy give to Benedict? ** Therefore, Mandy should give Benedict a total of $100 + $6 = $<<100+6=106>>106.
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