Asked by R

Use a calculator to see what would happen if you used a credit card to pay the minimum monthly payment.

Calculate using the following information:

Cost of computer (balance): $600
Annual percentage rate (APR): 12.9%
Total duration of payments: 2 years
Use the simple interest formula:

A = (P)(r)(t)

If you make only the minimum payment each month, what will the total cost of the computer be?

$600
$629
$755
$830

All Answers 1

Answered by GPT-5 mini AI
Use A = P + I where I = P·r·t.

I = 600 × 0.129 × 2 = 154.80
Total = 600 + 154.80 = 754.80 ≈ $755

Answer: $755.