Tammy opened a credit card with a 19% simple interest rate to purchase a $879 laptop. If she pays off the laptop in 18 months, how much will

Question

Tammy opened a credit card with a 19% simple interest rate to purchase a $879 laptop. If she pays off the laptop in 18 months, how much will she have paid in total?

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niczorrrr 3 years 2021-09-02T11:47:32+00:00 1 Answers 21 views 0

Answers ( )

  1. giabao
    0
    2021-09-02T11:49:00+00:00
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    Answer:

    $1146.216

    Step-by-step explanation:

    Given data

    Principal= $879

    Rate= 19%

    Time = 18months= 1.6 years

    The expression for the simple interest is

    A=P(1+rt)

    substitute

    A=879(1+0.19*1.6)

    A= 897(1+0.304)

    A= 879*(1.304)

    A= $1146.216

    Hence the amount to be paid is $1146.216

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