A customer purchases a television set for $800 using a credit card. the interest is

Mathematics

1 answer:

Ganezh [65]2 years ago

7 0

Answer:

<h2><em>FUTURE VALUE=956.48$</em></h2>

Step-by-step explanation:

<h2>i=18%=0.18</h2><h2>pv =$800</h2><h2>compound monthly =12</h2><h2>eff=(1+0.18/12)^12 -1</h2><h2> =19.56% =0.1956</h2><h2>f= pv(1+eff)^n here n=1 year eff=0.1956 </h2><h2>=800*(1+0.1956)^1</h2><h2>=$956.48</h2>

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