Question

Rita charged $126 for a DVD player at an interest rate of 15.9%. How much will Rita have to pay for the DVD player after 3 years if she makes no payments?

Answer 1

Answer:

$ 129.34 will be the total payment made after two months if she made no initial payment

Step-by-step explanation:

annual interest rate = 15.9 %

initial charge = $126

to get the annual interest paid = 15.9% of $126

                                                  = 0.159 * $126 = $20.03

monthly interest paid would be = annual interest  / 12 months

                                                    = 20.03 / 12 = $1.67

hence in 2 months Rita will pay = initial charge + monthly interest * 2

                                                    = $126 + $ 1.67 *2 = $ 126 + $3.34

                                                    = $ 129 .34

Interest rates are always given an annual interest rate.

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(P.S Brainliest Would Be Appreciated)