Your credit card balance is 1,200$ after you buy an iPhone X. You decide to take 5 months to pay it off at 21% interest rate. What is your total payment after 5 months?

Total Payment is $1305

Step-by-step explanation:

simple interest = (principal * rate * time) / 100

p = $1200

time = 5 months

rate = 21%

Interest = (1200 * 21 * 5/12) / 100

= 12 * 21 * 5/12 = 21 * 5

Interest = $105

Total payment = credit balance + interest

= $1200 + $105

= $1305