Total amount borrowed by college student = $ 2,000
Total interest paid = $123.75
Total amount the student has to pay = $2,000 + $123.75
= $2123.75
Total duration for which the amount is borrowed = 9 months
Total amount he has to pay back in 1 month = [tex]$2123.75 \div 9[/tex]
= $235.9
Therefore, Amount he has to pay in 1 month = $235.9
