You decide to buy a 60-inch plasma-screen TV. To do so, you borrow $4,500 from the electronics store at 1.9 percent per month simple interest, with no payments due for two years from the date of purchase.

How much do you owe on the loan after 15 months? Round your answer to the nearest whole dollar.

Question

You decide to buy a 60-inch plasma-screen TV. To do so, you borrow $4,500 from the electronics store at 1.9 percent per month simple interest, with no payments due for two years from the date of purchase.

How much do you owe on the loan after 15 months? Round your answer to the nearest whole dollar.

bahrom7893 · Answer

What if I decide to buy a 72 inch plasma TV?

bahrom7893 · Answer

anyway.. let's see..

anonymous · Answer

= 4500 * 1.019^15

bahrom7893 · Answer

Nice johnny! He is right the formula is the amount borrowed times percent to the power of time units..