Following his high school graduation, Brandon buys a new lap…
Following his high school graduation, Brandon buys a new laptop for $1,500 through BestSpend’s payment program, which requires no money down and only a $40/month payment at the end of each month. Interest on purchases through this program accrues at 25% APR compounded monthly. How much total interest will Brandon end up paying if he only ever makes the minimum $40/month payment?