Megan uses a credit card with a 24.9% APR compounded monthly to pay for car repairs totaling $583.75. She can pay $240 per month on the card. What will the total cost of this purchase be?

$583.75

$729.10

$709.55

$605.80

Question

Megan uses a credit card with a 24.9% APR compounded monthly to pay for car repairs totaling $583.75. She can pay $240 per month on the card. What will the total cost of this purchase be? 

 $583.75 

 $729.10 

 $709.55 

 $605.80

anonymous · Answer

$729.10

anonymous · Answer

thank you. what is the formula your using?

anonymous · Answer

Original amount + (tax rate * original amount)