Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

valenbric

  • 3 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?

  • This Question is Open
  1. darkb0nebeauty
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    s the definition of the deferment period that no interest accumulates during the deferment period? @valenbric

  2. valenbric
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    In this one I think there is no interest during the deferment period because it says introductory period.

  3. valenbric
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    @darkb0nebeauty

  4. darkb0nebeauty
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    then i cant help

  5. valenbric
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    Can you try it calculating interest though?

  6. valenbric
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    my choices are $1,011.60 $1,084.80 $1,215.60 $1,227.60

  7. valenbric
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    @darkb0nebeauty

  8. Not the answer you are looking for?
    Search for more explanations.

    • Attachments:

Ask your own question

Sign Up
Find more explanations on OpenStudy
Privacy Policy