If you make only the minimum payment each month, what will the total cost of the computer be?
2 answers:
Answer:
$755
Explanation:
Cost of the computer: $600
APR: 12,9%
Total duration of payment: 2 years
First, let's calculate the amount of interest that will be paid:
A=($600)(0,129)(2)
A=$155
Then, to determine the total cost of the computer you have to add the price of the computer plus the interests:
$600+$155= $755
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