Cameron has a balance of 10,200 on his credit card. he threw the card away so he can never use it again. he has 3 1/2 years to pay off the balance. the interest rate on his card is 21%. at the end of the 3 1/2 years how much in interest alone will cameron have paid

Cameron would have to pay $9,676.91 in interest alone.

Step-by-step explanation:

Hi, all we have to do is use the following formula to find the future value of this amount.

where;

Present value= 10,200

r= 0.21

t= 3.5

So, everything should look as follows

But that is the future value, in order to find the amount of interest expences Cameron would have to pay, we do as follows.

So, $9,676.91 is how much in interest alone will Cameron have paid.

Best of luck.