Jameson has $4,300 in credit card debt with 14% interest that he wants to pay off in 24 months. He will need to make monthly payments of $206.46 each month. Calculate the total cost of repayment and the interest Jameson will pay.

The answer to this question can be defined as follows:

net paid interest = $ 655. 04

Total cost = $ 4955.04

Step-by-step explanation:

Given values:

loan amount = $ 4,300

monthly payment = $ 206.46

interest rate = 14 %

Time = 2 years

Solution:

yearly payment = one month amount × 12

1 year payment = $ 206.46 × 12

1 year payment =  $2477.52

because Time is 2 year then payment is = $2477.52 *2

2 year payment = $ 4955.04

net interest paid  = total payment - loan amount

                            = $ 4955.04 - $4300

                            = $ 655.04

total  cost = $ 4955.04

net paid interest = $ 655.04

d. $180

step-by-step explanation:

if the dimensions of the room is 9ft by 12 ft, we have the area of the floor as,

so the area of the floor is 108 square feet, converting that into square yards we get,

the cost of carpet is $15 per square yard, therefore the cost of carpet for 12 square yards is,

hence, the cost of carpet is $180.

assuming the dimensions of the room be,

15 ft by 12 ft

so, the area of the floor of that room is,

we can convert 180 square feet into square yards, we know that,

1 sq ft = 0.111 sq yard

so, 180 square feet is,

so the area of floor is 20 square yards.

now, the cost of carpet is 15 dollars per square yard, therefore the cost of carpet for 20 square yards is,

so, it will cost $300.

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step-by-step explanation: