A company offering short term loans agrees to lend Nick $1,200 . The amount (plus interest) is repayable in one year, and the interest rate is 12% per month. What is the total amount that must be repaid? Give your answer in dollars to the nearest dollar. Do not include commas or the dollar sign in your answer. For example if your answer is $1,234.56 enter 1235 .

The total amount is 1214.4

Step-by-step explanation:

Given

principal p=$1200

interest rate r= 12%= 12/100= 0.12

time t= 1

n= 12

we know that the compound interest formula is

A=p(1+r/n )^nt

A=1200(1+0.12/12)^1*12

A=1200(1+0.01)^12

A=1200(1.001)^12

A=1200*1.012

A=1214.

for this case we have by definition, if two lines are perpendicular, then the product of their slopes is -1.

then, given the following line:

so,

we are looking for m_ {2}:

then, the line is given by:

we find "b" replacing the given point:

finally, the equation is:

option c