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John wants to buy a stereo for £650 and pay for it using a credit card that has an Annual Percentage Rate of 19.8%. If John pays the minimum monthly payment of £21.57 it will take 42 months to pay it off.  
 
(a)  What is the total amount John will pay for the stereo?

 Sep 8, 2016

Best Answer 

 #2
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Well, it is quite obvious!. Just multiply the monthly payment of 21.57 pounds by the number of months, or 42. So, 21.57 x 42 =905.94 pounds, of which 650 pounds is principal and 255.94 pounds is the interest.

 Sep 8, 2016

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 #1
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What do you mean by that long thing after 'John wants to buy a stereo for £650'?

That means the total amount = £650

ahhhhhh bright future XD

 Sep 8, 2016
 #2
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Best Answer

Well, it is quite obvious!. Just multiply the monthly payment of 21.57 pounds by the number of months, or 42. So, 21.57 x 42 =905.94 pounds, of which 650 pounds is principal and 255.94 pounds is the interest.

Guest Sep 8, 2016
 #3
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Thanks Guest#2, I didn't know that!! :)

MaxWong  Sep 8, 2016

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