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Morgan took out a $500 cash advance on her credit card. If the interest rate is 9%, and it takes her 1 year to pay back the loan, what is the total amount of money Morgan will ha…

Morgan took out a $500 cash advance on her credit card. If the interest rate is 9%, and it takes her 1 year to pay back the loan, what is the total amount of money Morgan will ha…
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5 votes
Morgan took out a $500 cash advance on her credit card. If the interest rate is 9%, and it takes her 1 year to pay back the loan, what is the total amount of money Morgan will have to pay back to her credit card?

User Vim Bonsu
by
8.3k points

2 Answers

2 votes

Answer: $777.60

Explanation:

8/100 = 0.08

0.08 * 720 = 57.6

57.6 + 720 = 777.6

User Harrison
by
8.8k points
3 votes

Answer:

545

Explanation:

9/100=0.09

0.09*500=45

45+500=545

Real answer: 545 Hope this helped C:

User RyanLiu
by
7.9k points
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