The amount Amanda repays is $1297.20.
How much is repaid?
The amount Amanda repays is the sum of the loan and the interest accrued. The interest accrued is a function of the loan amount, time and interest rate.
Amount repaid = loan amount + interest
Interest = loan amount x interest rate x number of years
$1200 x 0.054 x 1.5 = 97.20
Amount repaid = $97.20 + $1200 = $1297.20
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