Question

Help plz... will give medal and fan if u anser..Milton opens a store credit card when he purchases appliances for his kitchen. The interest rate is 17.45%. He charges $3,740 to the card, and can pay $1,350 per month. What will the total cost of his purchase be?
$3,740.00

$3,846.37

$4,392.63

$4,886.37

Answer 1

so start of with M = P( 1 + i )n

M is the final amount including the principal.

P is the principal amount.

i is the rate of interest per year.

n is the number of years invested.

Answer 2

im still confused

Answer 3

i got 10584372.58 n i kno tht isnt the rite answer so can someone pls help

Answer 4

$3,740.00

Answer 5

Loan amount $3,740; First month interest at 17.45%/12 months is $54.39. For a total due of $3,794.39.

First payment of $1,350 brings the balance down to $2,444.39.

Second month interest at 17.45%/12 months is $36.06. The balance is now $2,480.45.

Second payment of $1,350 brings the balance down to $1,130.45.

Third month interest at 17.45%/12 is $16.44. The balance is now $1,146.88.

Last payment of $1,146.88 pays the charge off.

The total cost of the purchase is $3,846.88

Answer 6

make sense?

Answer 7

nick can u help me with my question because no one else is helping there all busy chatting in the chat box

Answer 8

surdawi pls help.... im not gettin ganyof this

Answer 9

thanks tho @Jada12345 and @NickR

Answer 10

3,846.37 this is the answer kk

Answer 11

sue, and you are very welcome @Eulie

Answer 12

sorry sure and i just gave you the answer

Answer 13

nick you just copied the answer nothing more lol

Answer 14

i gave it to her with the steps doesnt matter where i got it @surdawi

Answer 15

still not your work

Answer 16

again doesnt matter

Answer 17

@surdawi

You are free:

to Share — to copy, distribute and transmit the work
to Remix — to adapt the work