Studies show that the average American has $4,878 in credit card debt with an average interest rate of 12.78% compounded monthly. If it took the average American 20 years to pay off their debt, how much would they be paying total?

Formula to use: y = a * b^x (or a = p(1+r/n)^nt)

$62,005.34

Step-by-step explanation:

If the interest rate is 12.78% compounded monthly, we can use the formula a = p(1+r/n)^nt

where a is the final value to be paid, p is the inicial value, r is the interest rate, n is the number of months in a year and t is the time in years

So, the total debt will be:

y = 4878 * (1+0.1278/12)^240 = $62,005.34

step-by-step explanation:

milk=16 large

soda=280 kids

juice box=82 regular

63 soda +63 regular

124 large total