Final answer:
The question asks to calculate the total amount paid for a camera on a credit card with 17.99% APR with monthly payments of $85. The calculation involves understanding compound interest and would typically require iterative calculations or the use of financial software, as specifics of a loan amortization need to be considered.
Step-by-step explanation:
The question revolves around calculating the total amount paid for a camera purchase on a credit card with an annual percentage rate (APR). The camera costs $2,700, and the credit card has an APR of 17.99%. With monthly payments of $85, we want to determine the total cost once the camera is fully paid off.
This requires an understanding of compound interest and amortization calculations. Since the question does not provide a formula for compound interest or amortization directly and requires rounding up of the number of payments, this indicates a need for iterative calculations or the use of a financial calculator or software.
To calculate the total payment, one would typically start with the principal amount (the cost of the camera), apply the monthly interest rate (APR divided by 12), and then deduct the fixed monthly payment of $85. This process repeats each month until the balance is zero. Since we do not have a direct formula to apply, we would need to calculate this iteratively, being careful to round the final payment up to the nearest whole number.