You purchase a new TV with a store credit card for $800. You have a year to pay off the TV, but interest accrues. The nominal rate is 12% compounded weekly. You pay back the full amount plus interest in one year, How much do you owe? a. 866.51 O b. 832.59 O c. 901.87 d. 896

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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You purchase a new TV with a store credit card for $800. You have a year to pay off the TV, but interest accrues. The nominal
rate is 12% compounded weekly. You pay back the full amount plus interest in one year, How much do you owe?
O a. 866.51
O b. 832.59
O c. 901.87
O d. 896
Transcribed Image Text:You purchase a new TV with a store credit card for $800. You have a year to pay off the TV, but interest accrues. The nominal rate is 12% compounded weekly. You pay back the full amount plus interest in one year, How much do you owe? O a. 866.51 O b. 832.59 O c. 901.87 O d. 896
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