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AGummiBear55

  • 3 years ago

Ben made some home improvements for $9,375 using a six-month deferred payment plan with an interest rate of 19.42%. What is the balance after the deferment period if no payments are made? $10,322.95 $9,375.00 $11,195.63 $10,244.95 I know it's B = P (1 + i)^nt... but I can't get it right!!

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  1. irene22988
    • 3 years ago
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    try using 0.5 as exponent

  2. AGummiBear55
    • 3 years ago
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    What do you mean?

  3. irene22988
    • 3 years ago
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    A=P(1+r)^t A=9375(1.1942)^0.5

  4. AGummiBear55
    • 3 years ago
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    I think that works! :D THANKS!

  5. irene22988
    • 3 years ago
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    thanks for the medal :D

  6. AGummiBear55
    • 3 years ago
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    Welcome... :)

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