only 17 and 18 c When ll sion on a zerodo 17 Mark bought a b

only 17 and 18

(c) When ll sion on a zero-do 17. Mark bought a big-screen television on realize that if he did not make payment in full on year interest promotion offered by a national electr onics s full on the the a date, he would be charged 24% interest per monthly for the entire year, plus the additional anniversary date. If the television originally cost $2660 and be off at the end of the thirteenth month, how much did he hate tin in total? year, com time past the

Solution

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17) The additional time past has not been provided

Since he will be paying the fees in the thirteenth month, hence he is 1 month late in submitting the payment

according to the formula

A = P(1+r/n)^(nt)

In our case, it is compounded monthly hence value of n=12

A = 2660(1+0.24/12)^(12*1/12) = 2660(1+0.02) = 2713.2

But since we have made the payment after 1 calendar year hence we have to pay the money for additional time past as well

Final Amount = 2713.2 + (Extra amount value not given in question)