Question

Help me answer this please : The new cost of an iPhone 11 is $700. You decide to put this on your credit

card that earns 9% (0.09). When the bill comes in you pay off $200,
meaning you still owe $500. How much interest will you be charged? And what will your new total bill be?​

Answer 1

To calculate the interest charged on the credit card, subtract the amount paid off from the new cost of the iPhone 11 and multiply it by the interest rate and time. The interest charged is $45. The new total bill will be $545.

Step-by-step explanation:

To calculate the amount of interest charged on the credit card, we need to find the difference between the new cost of the iPhone 11 ($700) and the amount you paid off ($200). This difference will be the initial principal amount on which interest is charged.

Interest is calculated using the formula: interest = principal x rate x time. In this case, the principal is $500 (the remaining amount owed), the rate is 0.09 (9% as a decimal), and the time is 1 year since the interest is calculated annually for credit cards.

Using this information, we can calculate the interest charged: interest = $500 x 0.09 x 1 = $45.

To find the new total bill, we add the interest charged to the remaining amount owed: new total bill = $500 + $45 = $545.

Answer 2

No I will never ever help you