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sportsgirl

Sally purchased a dining room set for $1,780 using a 12-month deferred payment plan with an interest rate of 25.48%. She did not make any payments during the deferment period. What will Sally’s monthly payment be if she must pay off the dining room set within two years after the deferment period?

  • one year ago
  • one year ago

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  1. Chlorophyll
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    @sportsgirl Any idea to start with?

    • one year ago
  2. sportsgirl
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    i have no idea im so lost with this its not even funny

    • one year ago
  3. Chlorophyll
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    Can you fill the number into this formula A = P ( 1 + r ) ^t

    • one year ago
  4. sportsgirl
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    thats what i was thinking but using the formula to go with it the B=P(1+i)^nt

    • one year ago
  5. Chlorophyll
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    Could you fill the numbers in so I can know where your mistake?

    • one year ago
  6. sportsgirl
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    1780(1+.2548/12)^12 i think lol

    • one year ago
  7. Chlorophyll
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    It's absolutely correct =)

    • one year ago
  8. sportsgirl
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    ya but i get 2249.26 and that not an answer :(

    • one year ago
  9. Chlorophyll
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    No, it's just first step !

    • one year ago
  10. sportsgirl
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    oooo wait do u no what the answer is because i think i got it and i got 95.43 but i feel like im wrong because i suck at this lol

    • one year ago
  11. Chlorophyll
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    Let me do the calculation!

    • one year ago
  12. sportsgirl
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    alright lol

    • one year ago
  13. sportsgirl
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    thats not one of the answers

    • one year ago
  14. sportsgirl
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    $105.35 $122.80 $74.17 $95.44

    • one year ago
  15. sportsgirl
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    Sally purchased a dining room set for $1,780 using a 12-month deferred payment plan with an interest rate of 25.48%. She did not make any payments during the deferment period. What will Sally’s monthly payment be if she must pay off the dining room set within two years after the deferment period? $105.35 $122.80 $74.17 $95.44 thats them together

    • one year ago
  16. sportsgirl
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    ok hahaha

    • one year ago
  17. Chlorophyll
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    = $122.7968

    • one year ago
  18. sportsgirl
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    thank you so much

    • one year ago
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