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sportsgirl

  • 2 years ago

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?

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  1. Chlorophyll
    • 2 years ago
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    @sportsgirl Any idea to start with?

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

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

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

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

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

  7. Chlorophyll
    • 2 years ago
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    It's absolutely correct =)

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

  9. Chlorophyll
    • 2 years ago
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    No, it's just first step !

  10. sportsgirl
    • 2 years ago
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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

  11. Chlorophyll
    • 2 years ago
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    Let me do the calculation!

  12. sportsgirl
    • 2 years ago
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    alright lol

  13. sportsgirl
    • 2 years ago
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    thats not one of the answers

  14. sportsgirl
    • 2 years ago
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    $105.35 $122.80 $74.17 $95.44

  15. sportsgirl
    • 2 years ago
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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

  16. sportsgirl
    • 2 years ago
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    ok hahaha

  17. Chlorophyll
    • 2 years ago
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    = $122.7968

  18. sportsgirl
    • 2 years ago
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    thank you so much

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