What is $100 plus 20% interest amortized over 4 months?
Answers:
If you are getting a loan of $100, at 20% annual interest rate for 4 months, your monthly stipend will be $26.05, total interest rewarded $4.20 and total of payments $104.20
I presume it's $ 207.36
Are you sure you intended to use the word 'amortized' and not compounded? Amortizing is reducing little by little, or paying stale (as a loan) usually by sporadic payments of principal and interest. Compounding is interest calculated on both the principal and the accrue interest.
If you expected compounded, it depends on how regularly it is compounded. It could be continuously, on a daily basis, monthly, quarterly, semi-annually, or annually. Any one of those ways, it would be around $105-$107. Hope this help you.