louie takes out a 3 - month loan of $ 1000 . the lender charges him 10 % interest per month compounded monthly . the terms of the loan state that louie must repay the loan in 3 equal monthly payments . to the nearest dollar , how much does louis have to pay each month ?
after 1 st month : ( 1000 ) ( 1.1 ) - x = 1100 - x after 2 nd month : ( 1100 - x ) ( 1.1 ) - x = 1210 - 2.21 x after 3 rd month : ( 1210 - 2.21 x ) ( 1.1 ) - x = 1331 - 3.31 x now , the amount after the last payment in 3 rd month must bring the total to 0 . hence : 1331 - 3.31 x = 0 x = 1331 / 3.31 = 402.11 the answer is c
divide(add(1000, add(add(multiply(multiply(1000, 3), divide(10, const_100)), multiply(multiply(multiply(1000, 3), divide(10, const_100)), divide(10, const_100))), const_1)), divide(add(add(multiply(multiply(1000, 3), divide(10, const_100)), multiply(multiply(multiply(1000, 3), divide(10, const_100)), divide(10, const_100))), const_1), const_100))