you decide to buy a 60 inch plasma screen tv. to doo so you borrow 4300 dollars from the electronics store and 1.8 percent per month simple interest with no payments due for two years from the purchase date. how much do you owe on the loan after 15 months?

Question

anonymous · Answer

zero? if i'm reading it right

>no payments due for two years from the purchase date (24 months)
>how much do you owe on the loan after 15 months? (less than 24 months)

therefore, you still don't owe anything on your loan yet

anonymous · Answer

assuming the calculation is taking place directly after purchase, and not after the 2 year mark which isn't specified

ganeshie8 · Answer

amount you owe = principal + interest for 15 months
= 4300 + 0.018 x 4300 x 15