(Cash Versus Financing MC)

A customer at an electronics store opened a store credit card to purchase a computer for $1,800. The store put the entire purchase on the credit card with an APR of 17.99%. The customer pays $125 per month until the balance is paid off. Determine the total amount of interest paid.

A spreadsheet was used to calculate the correct answer.Your answer may vary slightly depending on the technology used.

$188.09
$295.01
$243.11
$182.45

Question

(Cash Versus Financing MC)

A customer at an electronics store opened a store credit card to purchase a computer for $1,800. The store put the entire purchase on the credit card with an APR of 17.99%. The customer pays $125 per month until the balance is paid off. Determine the total amount of interest paid.

A spreadsheet was used to calculate the correct answer.Your answer may vary slightly depending on the technology used.

$188.09
 $295.01
 $243.11
 $182.45

Phantomdex · Answer

The last row of the table will show the total interest paid, which is approximately $243.11. The correct option is C. I believe anyways.

Phantomdex · Answer

B is too big where d and a would be too small of numbers in this case, and the work just doesn't even out for any of them but c

TheJag18 · Answer

alright, great.