Felix borrowed $400 and must pay 12% interest. How much must be paid

back in all if he paid it back after 1 year?

448

Step-by-step explanation:

So, here is the formula for that:

Fa=Ia (1+per)

First off, the percentage (per) would be represented as a decimal (.12). The initial amount (Ia) would be 400. The "+" is there because of increasing interest. This would be the equation:

400 (1+.12)

Use the distributive property and you get 448

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