Answer:
$ 129.34 will be the total payment made after two months if she made no initial payment
Step-by-step explanation:
annual interest rate = 15.9 %
initial charge = $126
to get the annual interest paid = 15.9% of $126
= 0.159 * $126 = $20.03
monthly interest paid would be = annual interest / 12 months
= 20.03 / 12 = $1.67
hence in 2 months Rita will pay = initial charge + monthly interest * 2
= $126 + $ 1.67 *2 = $ 126 + $3.34
= $ 129 .34
Interest rates are always given an annual interest rate.
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