Complete this assessment to review what you've learned. It will not count toward your grade.

To calculate the total cost of repaying a $750 credit card loan with a 17.99% annual interest rate compounded monthly over a period of 9 months, we can use the formula for the monthly payment of an installment loan, which is given by:

\[
M = P \frac{r(1 + r)^n}{(1 + r)^n - 1}
\]

Where:
- \( M \) is the monthly payment
- \( P \) is the loan principal ($750)
- \( r \) is the monthly interest rate (annual rate / 12)
- \( n \) is the total number of payments (9)

1. Calculate the monthly interest rate:
\[
r = \frac{17.99\%}{12} = \frac{0.1799}{12} \approx 0.01499167
\]

2. Substitute the values into the formula:
\[
M = 750 \frac{0.01499167(1 + 0.01499167)^9}{(1 + 0.01499167)^9 - 1}
\]

3. Calculate \((1 + r)^n\):
\[
(1 + 0.01499167)^9 \approx 1.149567
\]

4. Now substitute this back into the equation:
\[
M = 750 \times \frac{0.01499167 \times 1.149567}{1.149567 - 1}
\]
\[
M \approx 750 \times \frac{0.01721388488}{0.149567} \approx 750 \times 0.115893 \approx 86.92
\]

5. The monthly payment \( M \) is approximately $86.92.

6. Calculate the total cost of the loan:
\[
\text{Total Cost} = M \times n = 86.92 \times 9 \approx 782.28
\]

7. Round to the nearest dollar:
\[
\text{Total Cost} \approx 782
\]

So, the total cost of repaying the loan to the nearest dollar is **$782**.