Jamie wants a new smart/TV sound system that cost $1,250. He does not have that much in cash to purchase it, so he uses a credit card with 18% annual interest. He puts $250 down, but he only pays the interest each month on that credit card debt. About how much will he pay in interest over 4 years?

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A: the given principal value P = $ 7,500 interest rate r = 4.5% for time t = 6 years

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A: Given, Future value FV=15474$ Rate of interest r=8%=0.08 Number of times per year m=1 time t=6 years…

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A: ANSWER :

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Q: lamil wants to renovate his Studio in 6 years. H estimates the cost to be $16511. How much should he…

A: Given          Future value (FV)=$16511     Interst rate (r) =8%=0.08   Time period (n) =6 years