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To find out the total amount Jerome has paid in interest over the 7 months, we'll follow these steps based purely on the provided information:
1. Identify the finance charges for each month:
- Month 1: \[tex]$0.00 - Month 2: \$[/tex]33.00
- Month 3: \[tex]$32.84 - Month 4: \$[/tex]32.67
- Month 5: \[tex]$32.51 - Month 6: \$[/tex]32.34
- Month 7: \[tex]$32.18 2. Sum the interest charges: - Add up the charges from each month. 3. Calculate the total interest paid: - By adding up all the finance charges, the result is the total interest Jerome has paid. The interest amounts from each month are: \[ 0.00 + 33.00 + 32.84 + 32.67 + 32.51 + 32.34 + 32.18 = 195.54 \] Therefore, the total amount Jerome has paid in interest over the 7 months is \$[/tex]195.54.
1. Identify the finance charges for each month:
- Month 1: \[tex]$0.00 - Month 2: \$[/tex]33.00
- Month 3: \[tex]$32.84 - Month 4: \$[/tex]32.67
- Month 5: \[tex]$32.51 - Month 6: \$[/tex]32.34
- Month 7: \[tex]$32.18 2. Sum the interest charges: - Add up the charges from each month. 3. Calculate the total interest paid: - By adding up all the finance charges, the result is the total interest Jerome has paid. The interest amounts from each month are: \[ 0.00 + 33.00 + 32.84 + 32.67 + 32.51 + 32.34 + 32.18 = 195.54 \] Therefore, the total amount Jerome has paid in interest over the 7 months is \$[/tex]195.54.
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