Asked by Sandy

Really need help with this: You purchase a computer for $875.00 plus 5% sales tax. You decide to finance it through the store's 0% program for 12 months. The terms state that you must pay $100.00/month and that if you miss a payment, you will be assessed a late fee of $39.00 plus the interest accrued to that point at a 14.25% APR. If you miss a payment in the eighth month, how much interest will you be charged?
(Please explain how you get the answer, I can't find anyone who can get it.)
$83.13
$16.63
$87.28
$20.78
Answered by Henry
See previous post: Sun, 4-19-15, 7:26 PM
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