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    The document lists several items on a Christmas/Birthday wish list along with their original costs, sale discounts applied, sale prices, taxes, and final costs. The total cost of all items is $999.91. If this amount is charged to a credit card with 12% interest and paid off over 2 years, the total interest incurred would be $2879.76, nearly tripling the original cost. Therefore, it is not wise to charge the entire list on a credit card due to the large amount of interest that would be paid.

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    The document lists several items on a Christmas/Birthday wish list along with their original costs, sale discounts applied, sale prices, taxes, and final costs. The total cost of all items is $999.91. If this amount is charged to a credit card with 12% interest and paid off over 2 years, the total interest incurred would be $2879.76, nearly tripling the original cost. Therefore, it is not wise to charge the entire list on a credit card due to the large amount of interest that would be paid.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    13 views2 pages

    Ppppppoooppp

    Uploaded by

    api-270449295
    The document lists several items on a Christmas/Birthday wish list along with their original costs, sale discounts applied, sale prices, taxes, and final costs. The total cost of all items is $999.91. If this amount is charged to a credit card with 12% interest and paid off over 2 years, the total interest incurred would be $2879.76, nearly tripling the original cost. Therefore, it is not wise to charge the entire list on a credit card due to the large amount of interest that would be paid.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Christmas/Birthday Wish List

    Item

    Original
    Cost

    Percent off

    Amount
    Saved

    Percent
    Paying

    Destiny
    xbox
    Call of
    duty
    advanced
    warfare
    Apple ipad
    mini 16 gb
    Beats by dr
    dre
    PlayStation
    4

    50.84

    10%

    5.08

    90

    45.76

    59.96

    20%

    11.99

    80

    47.97

    239.00

    10%

    23.90

    90

    279.95

    15%

    41.99

    85

    399.00

    5%

    19.95

    95

    Total cost of Christmas List: $999.91

    Sale Price

    215.10
    237.96
    379.05

    Percent
    Of Tax

    Amount of
    Tax

    Final Cost

    8%

    3.66

    49.42

    8%

    3.84

    51.81

    8%

    17.21

    232.31

    8%

    19.04

    257.00

    8%

    30.32

    409.37

    1. You used a credit card to purchases you Christmas/Birthday list. Your


    credit card charges 12% simple interest. If it takes you 2 years to pay off
    the credit card, how much interest will you end up paying? $2879.76
    2. After determining the amount of interest you will pay on your credit, do
    you feel as though it is a wise choice to purchase you Christmas/Birthday
    list on a credit card? Please explain No. You pay almost three times of the
    amount.

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