Ask Question
5 February, 21:04

Maggie uses a credit card with 17.4% apr compounded monthly to pay for car repairs totaling 843.12 she can pay 330 per month on the card what will the total cost be

+2
Answers (1)
  1. 5 February, 21:23
    0
    17.4% APR is 17.4/12% per month=1.45% or 0.0145.

    After 1 month 843.12 will grow to 855.35

    Take off 330 to leave 525.35.

    After another month this will grow to 532.96.

    Take off 330 to leave 202.96.

    After another month this will grow to 205.91.

    So the total cost will be 2*330+205.91=865.91.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Maggie uses a credit card with 17.4% apr compounded monthly to pay for car repairs totaling 843.12 she can pay 330 per month on the card ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers