Answer:
519.99(.0825) = 42.899
519.99 + 42.899 = $562.89
Step-by-step explanation:
answere=-1
this is the answere and the explanation.
APR stands for Annual Percentage Rate and in this problem, we are given APR is equal to 9.7%
Per month rate = 9.7% / 12 months = 0.808%
Total credit interest for 12 months = 958.62 *0.097 = $92.97
In one month = $92.97/12 = $7.7475
If you pay at the end of the first month:
Payment = 105.00
The amount goes to principal:
Amount =$105 - $ 7.7475
Amount = $142.25