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valenbric

  • 2 years ago

Lillian made a down payment of $150 on some hockey equipment. The balance of the purchase price was paid for using a deferred payment plan with an 18-month introductory period. The interest rate is 26.79%. If the purchase price of the hockey equipment was $975 and minimum payments of $12 were made during the deferment period, what is the balance after the deferment period?

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  1. darkb0nebeauty
    • 2 years ago
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    s the definition of the deferment period that no interest accumulates during the deferment period? @valenbric

  2. valenbric
    • 2 years ago
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    In this one I think there is no interest during the deferment period because it says introductory period.

  3. valenbric
    • 2 years ago
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    @darkb0nebeauty

  4. darkb0nebeauty
    • 2 years ago
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    then i cant help

  5. valenbric
    • 2 years ago
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    Can you try it calculating interest though?

  6. valenbric
    • 2 years ago
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    my choices are $1,011.60 $1,084.80 $1,215.60 $1,227.60

  7. valenbric
    • 2 years ago
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    @darkb0nebeauty

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