Matthew opens a store credit card when he purchases a new sound system. The interest rate is 22.45%. He charges $4,120 to the ca

Question

3 years ago

8

rd, and can pay $1,450 per month. What will the total cost of his purchase be?

2 answers:

Nookie1986 [14] · Answer 1 · 2022-03-14T01:13:47+03:00

Let

C----------------- > charges for the purchases to the credit card

<span>r------------------- > the interest rate </span>

X------------------ > total cost of the purchase

we know that

C=4120

r= 22.45%=0.2245

X=C*(1+r)

substituting the values in the formula

X=(4120)*(1+0.2245)= (4120)*(1.2245)=5044.94

the answer is $5044.94

Leona [35] · Answer 2 · 2022-03-14T02:40:20+03:00

Leona [35]3 years ago

3 0

The answer is 4,273.70

Just took the quiz.. Other answer is wrong