Question

mitchell has decided to use a credit card to buy a new gaming system. the price of the item with tax is $318. if he makes the minimum payment of $15 each month, it will take him 26 months to pay off the debt at an 18% interest rate. the total interest will be $67.64. how much will the item cost if mitchell uses a credit card and only makes the minimum payment each month? $

Explanation:

Step1: Identify cost components

Total cost = price with tax + total interest

Step2: Calculate total cost

$518 + 67.64 = 585.64$

Answer:

585.64