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AGummiBear55

What formula do I use for this question? Becky purchased a home entertainment center set for $2,254 using an 18-month deferred payment plan with an interest rate of 22.48%. She did not make any payments during the deferment period. What will Becky’s monthly payment be if she must pay off the dining room set within three years after the deferment period?

  • one year ago
  • one year ago

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  1. Chlorophyll
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    Compound interest formula for 18 months :)

    • one year ago
  2. AGummiBear55
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    Oh!!! Thank you! Can you help me find the formula for: Julio purchased some power tools totaling $2,174 using a six-month deferred payment plan with an interest rate of 28.19%. He did not make any payments during the deferment period. What will the total cost of the dining room set be if he must pay off the dining room set within two years after the deferment period?

    • one year ago
  3. Chlorophyll
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    No, not yet! I haven't done with it!!!

    • one year ago
  4. AGummiBear55
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    Oh, okay... :)

    • one year ago
  5. Chlorophyll
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    Do you want me to check your 18- month result?

    • one year ago
  6. AGummiBear55
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    Yeah.. I think I did it wrong. I got: 4405.83. But the multiple choices I'm given are: $121.01 $87.45 $62.61 $113.72

    • one year ago
  7. Chlorophyll
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    Give me the minute to check!

    • one year ago
  8. AGummiBear55
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    okay... take your time. :)

    • one year ago
  9. Chlorophyll
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    Monthly payment $121.009 = $121.01

    • one year ago
  10. AGummiBear55
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    Ahh!! You're amazing!! :D Thank you so so much..

    • one year ago
  11. Chlorophyll
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    Open the new post for the next question :)

    • one year ago
  12. AGummiBear55
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    okay. :)

    • one year ago
  13. AGummiBear55
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    the question is open... :)

    • one year ago
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