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OpenStudy (anonymous):
Mat purchased a washer and dryer for $2,885 using a 18-month deferred payment plan with an interest of 26.12%. What is the balance after the deferment period if payments of $85 were made each month? what formula do i use?
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OpenStudy (alexwee123):
a deferment period is a time when a borrower does not have to pay interest or repay the principal of a loan correct? o.0
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