Newton uses a credit card with a 18.6% APR, compounded monthly, to pay for a cruise totaling $1,920.96. He can pay $720 per month on the card. What will the total cost of this purchase be?

Answers

Answer 1
It will take about 3 months to payoff the entire card. $56.01 of total interest will be paid. The total cost of the purchase will then be the initial cost with the interest paid added on. 1976.97 will be the total cost.
Answer 2
Answer:

$1947.32

Explanation:

Most credit cards allow the balance to be paid in the first month without any finance charge. After Newton's first payment of $720 the remaining balance of $1200.96 will earn interest of 1.55% for the month, resulting in a new balance of 1219.57.

Following the second month's payment of $720, Newton's balance of $499.57 will earn 1.55% interest to become a new balance of $507.32. Newton can pay that off in the 3rd month.

Newton's total of payments is ...

... $720 +720 +507.32 = $1947.32

_____

This amount includes $26.36 in interest charges.


Related Questions

Short form of writing is becoming a standard in the medical workplace. Explain why brevity in writing is useful in the in the healthcare industry.

Answers

Brevity is useful bevause it simply saves time - if the writing was general, healthcare workers would need to consult the writer as to what they mean specifically. Health professionals need to know the exact illness or side effects in order to properly care for their patients
Brevity in writing is useful in the in the healthcare industry because it is a time saverFurther explanation  

Short form of writing is becoming a standard in the medical workplace, because it is easier for the busy healthcare workers, so they don't have to write as much and it is much quicker to write abbreviations

Brevity is defined as the shortness of time or duration I think brevity is important in a healthcare industry because it is a time saver. Each step in healthcare industry spent by getting information from the patient. By using short solution it or brevity will get information down so the rest of the time can be spent on taking care of other important things. Brevity can saves time, and time saves lives. Because especially in healthcare industry we dont want to have to say a twenty four letter words when you can use three to save time and save lives of the patients.

Learn more Learn more about brevity definition https://brainly.com/question/12416661Learn more about healthcare industry https://brainly.com/question/1620849Learn more about working in healthcare industry https://brainly.com/question/2642523Learn more about the Short form of writing https://brainly.com/question/12866948

Answer details

Grade:  9

Subject: Advanced Placement (AP)

Chapter:  the medical workplace.

Keywords:  the medical workplace.

How was the contemporary legislative branch responded to factions? Note both positive and negative examples please

Answers

They pass laws and stuff thats there main job they work for the people 

Contemporary legislative branch responded to factions by making decisions that benefit the whole country to all the citizens, not only the members of a faction.

Further explanation

The legislative branch is made up of the two  of Congress houses such as the Senate and the House of Representatives. The most important duty of the legislative branch is to make laws. Laws are written, discussed and voted on in Congress.

The Senate is composed of 100 Senators, where there is 2 for each state.

A political faction is a grouping of individuals, especially within a political organization such as a political party, a trade union, or other group with a political purpose. A political faction may also be called a power bloc, or a voting bloc. There are  two methods of removing the faction causes : destroying the liberty which is essential to its existence and by giving to every citizen the same opinions, the same passions, and the same interests.

Hope it helps!

Learn moreLearn more about  Contemporary legislative branch https://brainly.com/question/2925602Learn more about  legislative branch https://brainly.com/question/2596712Learn more about  political faction  https://brainly.com/question/11291331

Answer details

Grade:  9

Subject:  advanced placement

Chapter:   the contemporary legislative branch

Keywords: contemporary, legislative, branch, faction, political, advanced placement

More than ½ of the labor force in ____________ are guest workers.

A. Bahrain
B. The U.S.
C. Mexico
D. China

Answers

B. The u.s, because of the work force here

How did European explorers respond to the language, clothing, customs, dwellings, and food of the Native American peoples?

Answers

They responded by sign language. Since there weren't words back then they had to make up hand language. 

Answer: Sign language ; Hand language
Europeans encouraged the cultural assimilation of the Native Americans into European customs. Most of the time they were expected to abandon whatever beliefs they held at the time to Christianity, Catholicism, etc.
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