Alex buys a computer for $⁢1,200 using a credit card with a 10% annual interest rate. If he pays off the purchase over one year and the card has no grace period, what is the total cost of the computer including interest? Formula: total cost=purchase amount+(purchase amount⋅interest rate)

Question

Revolt · Accepted Answer

1 dollars comma 320

Credit Cards — Quiz

Alex buys a computer for $⁢1,200 using a credit card with a 10% annual interest rate. If he pays off the purchase over one year and the card has no grace period, what is the total cost of the computer including interest? Formula: total cost=purchase amount+(purchase amount⋅interest rate)

Explanation

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