Question 1086757

Bill bought a stereo on his credit card for $500. He plans on paying the minimum payment amount of $20 each month. His credit card adds a fee of $7.50 for each month there is a balance on his account. How many months will it take Bill to pay off the balance? What will he actually pay for the stereo?
<pre>It takes him {{{highlight_green(matrix(1,2, 40, months))}}} to pay off the $500.
In those 40 months, he pays: {{{highlight_green(matrix(1,3, 40(20), "=", "$800"))}}} for the stereo.
IGNORE all other RIDICULOUS answers, especially one that states that he'll pay a total of $10,000 for a $500 stereo. Who'd be STUPID to do that?