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Michael opens a store credit card when he purchases a new computer. The interest rate is 25.45%. He charges $2,380 to the card, and can pay $850 per month. What will the total cost of his purchase be?


$2,380.00


$2,480.20


$2,985.71


$3,160.20

Verified Answer :

the answer is C. 

2,380 x 1.2545 = $2,985,71

(the reason you use 1.2545 is to skip the step of having add /.2545 to 2380

This isn't an accurate question however, because credit cards use compound interest.

the real answer is b 2480.20

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