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Sagot :
Based on the APR given, the amount that he'll pay for the month will be $426.95.
How to calculate the monthly payment
Since the APR is given as 15%, the monthly interest rate will be:
= 15%/12 = 0.0125
The amount spent is $316, the amount each month will be:
= $316 × 0.0125
= $3.95
Since Marcus has credit card he owed $423 at the beginning, the amount he'll pay for the month will be:
= $423 + $3.95
= $426.95
Learn more about APR on:
https://brainly.com/question/24703884
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