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  • 3 years ago

Alex purchased a bedroom set for $2,276 using a six-month deferred payment plan with an interest rate of 23.49%. What is the balance after the deferment period if payments of $112 are made each month? $1,604.00 $1,884.74 $2,276.00 $2,556.74

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  1. tkhunny
    • 3 years ago
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    $2,276.00*(0.2349/12) = $44.55 Well, he's paying more than just the interest. This rules our $2,276.00 and $2,556.74 Where will that leave him?

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