Final answer:
The total cost of Natalie's hotel stay paid using a credit card with a 23.6% APR, compounded monthly, and a $300 monthly payment will be $900. C. $923.43 is correct answer.
Step-by-step explanation:
To calculate the total cost of Natalie's hotel stay, we need to find the total number of months she will need to pay off the credit card debt. She can pay $300 per month, so the equation becomes:
$748.12 = $300 imes x
Where x is the number of months. To isolate x, divide both sides of the equation by $300:
x = $748.12 / $300
x = 2.49373
Since we can't have a fraction of a month, we need to round up to the nearest whole number. Therefore, Natalie will need to make 3 payments. Now, let's calculate the total cost of the purchase. Natalie will pay $300 for 3 months, so:
Total cost = $300 imes 3 = $900
Therefore, the total cost of this purchase will be $900.