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ochoachanna
29.09.2019 •
Mathematics
You owe $1,568.00 on a credit card with a limit of $2,200.00 at an interest rate of 11.3% apr. you pay $300.00/month until it is paid off. how much is the total interest you paid?
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Ответ:
Answer with explanation:
Amount Owed on the credit Card by me = $ 1568.00
Rate of Interest =11.3% APR
Amount Paid Per Month =$ 300
After first Month Amount left which is to be Paid by me= $ 1568 - $ 300
= $ 1268
Total Amount that has to be paid when amount of $300 has been Paid
⇒After Second Month Amount left which is to be Paid by me= $ 1279.95 - $ 300 = $ 979.95
Total Amount that has to be paid when amount of $600 has been Paid
⇒After third Month Amount left which is to be Paid by me= $ 989.18 - $ 300 = $ 689.18
Total Amount that has to be paid when amount of $900 has been Paid
⇒After Fourth Month Amount left which is to be Paid by me= $ 695.67 - $ 300 = $ 395.67
Total Amount that has to be paid when amount of $1200 has been Paid
⇒After Fifth Month Amount left which is to be Paid by me= $ 399.40 - $ 300 = $ 99.40
Total Amount that has to be paid when amount of $1500 has been Paid
So, in the end you pay a total of $ 100.34.
Total Money in the beginning = $ 1568.00
Total money paid including Interest = $300×5+$100.34
=$1600.34
So, total Interest Paid =$ 1600.34 -$ 1568.00
= $ 32.34
Ответ:
47.80 is the answer
Step-by-step explanation:
Ответ:
There you go :)
Hope this helped you
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