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OpenStudy (anonymous):
Naomi uses a credit card with a 25.9% APR, compounded monthly, to pay for a hotel stay totaling $971.20. She can pay $400 per month on the card. What will the total cost of this purchase be?
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OpenStudy (anonymous):
I used the formula x=price of hotel(1+(interest/compounding))^(total years*compounding)
OpenStudy (anonymous):
i got $1,035.45
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