Question

PLEASE HELP ME ANSWER THIS FAST!!!!!!!!!!!!!!!!!!!!!

Jake buys a gaming system and equipment for $2200.00 with a credit card that has a 28% APR.

He makes a $100.00 monthly payment. What is the total amount of interest based on the APR? Enter your answer as a dollar amount, such as: $324.

Answer 1

Please don't hold this against me but I think it would be $51.33

Explanation:

APR: 28.0000%

Total Financial Charges: $51.33

Amount Financed: $2,200.00

Total Payments: $2,251.33

Total Loan: $2,200.00

Total Interest: $51.33

Does It make any sense?

Answer 2

The correct answer is $922.

To be more accurate the answer is $922.34, however the question says to input the answer as the dollar amount, so it would be just $922.