Help please!? Becky purchased a home entertainment center set for $2,254 using an 18-month deferred payment plan with an interest rate of 22.48%. She did not make any payments during the deferment period. What will Becky’s monthly payment be if she must pay off the dining room set within three years after the deferment period?

$121.01
$87.45
$62.61
$113.72

Question

Help please!? Becky purchased a home entertainment center set for $2,254 using an 18-month deferred payment plan with an interest rate of 22.48%. She did not make any payments during the deferment period. What will Becky’s monthly payment be if she must pay off the dining room set within three years after the deferment period?

$121.01
$87.45
$62.61
$113.72

anonymous · Answer

This is what I have so far: 

2254(1+.2248/   .....

anonymous · Answer

would it be: 2254(1+.2248/18)^(18)(3)