6
InstructionMultiple Choice

Long Term Purchases

Question 6 • Financial Math B (MA402) '25

Nicole used her credit card to buy a $1,255 mattress. Her credit card has an APR of 11.56%, compounded monthly, and the mattress was the only purchase on the card. Nicole paid off the mattress after two and a half years. If the sales tax in Nicole’s area is 9.08%, how much interest did Nicole pay in total? (Round all dollar values to the nearest cent.)a.$213.85b.$456.20c.$196.10d.$327.86

Answer
A
A
B
B
C
C
D
D
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Nicole used her credit card to buy a $1,255…