Twice a year, for all four years of college, you used your credit card to pay for books and supplies, which amounts to $516 a semester.
In addition to that, you charged a yearly spring break trip, which averages about $700 per trip, each of the four years.
Finally, each of the 48 months you spent as a college student, you ended up charging some eating out, entertainment, clothes, etc. After interest and making your minimum monthly payment, you end up adding a balance of $100 per month.

$11,728

Step-by-step explanation:

Twice a year, for 4 years is 8 times

516×8 = 4128

Yearly for 4 years is 4 times

700×4 = 2800

Every month for 4 years is 48 times

100×48 = 4800

Minimum expenditure:

4128 + 2800 + 4800 = $11,728

this is the formula: v = the value of investment at the end of the time period

p = the principal amount (the initial amount invested)

r = the annual interest rate

n = the annual frequency of compounding (how many times a year interest is added)

t = the number of years the money is invested

^ means raise to the power of