Nate purchased a stereo system for $1163.74 using a payment plan set up by the company. The company’s advertisement was for no payments for a year. However, the interest would accrue during that year at a rate of 12% on any unpaid balance. If Nate does not make payments on his stereo system , what would Nate’s bill be at the end of the year including interest?

Use A=P+P(0.12) where A is the account balance and P is the principle. Principle=$1163.74

Question

Nate purchased a stereo system for $1163.74 using a payment plan set up by the company. The company’s advertisement was for no payments for a year. However, the interest would accrue during that year at a rate of 12% on any unpaid balance. If Nate does not make payments on his stereo system , what would Nate’s bill be at the end of the year including interest?

Use A=P+P(0.12) where A is the account balance and P is the principle. Principle=$1163.74

anonymous · Answer

1396.49