Loan of $9450, interest of 12% for 12 months =
Total interest = Loan amount x Interest rate x Time
Total interest = $9450 x 12% x 1 year
Total interest = $1134
Total amount to be repaid = Loan amount + Total interest
Total amount to be repaid = $9450 + $1134
Total amount to be repaid = $10584
Therefore, the total amount to be repaid on a loan of $9450 with an interest rate of 12% for 12 months is $10584.
add 2 more months of interest
Total interest for 14 months = Loan amount x Interest rate x Time
Total interest for 14 months = $9450 x 12% x 1.17 years
Total interest for 14 months = $1326
Total amount to be repaid for 14 months = Loan amount + Total interest
Total amount to be repaid for 14 months = $9450 + $1326
Total amount to be repaid for 14 months = $10776
Therefore, the total amount to be repaid on a loan of $9450 with an interest rate of 12% for 14 months is $10776.