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Your parents purchase a computer for $1,257.00 plus 6% sales tax. They decide to finance it through the store's 0% program for 6 months. The terms state that they pay nothing until the 6 months are over. When they receive the bill, they forget to pay it and are assessed a late fee of $45.00 plus the interest accrued to that point at a 16.75% APR. How much interest will they be charged?
Sorry this is late but, the answer is A because firstly you need to multiply the sales tax (6%, 0.06) to the money already owed, which will leave you with $1,332.42.
Then, before you add the $45, you multiply $1,332.42 by 16.75% (0.1675) and you will get $223.18. Hope this helped!
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