Sally purchased a dining room set for $1,780 using a 12-month deferred payment plan with an interest rate of 25.48%. She did not make any payments during the deferment period. What will Sally’s monthly payment be if she must pay off the dining room set within two years after the deferment period?

Question

anonymous · Answer

@sportsgirl Any idea to start with?

anonymous · Answer

i have no idea im so lost with this its not even funny

anonymous · Answer

Can you fill the number into this formula
A = P ( 1 + r ) ^t

anonymous · Answer

thats what i was thinking but using the formula to go with it the B=P(1+i)^nt

anonymous · Answer

Could you fill the numbers in so I can know where your mistake?

anonymous · Answer

1780(1+.2548/12)^12 i think lol

anonymous · Answer

It's absolutely correct =)

anonymous · Answer

ya but i get 2249.26 and that not an answer :(

anonymous · Answer

No, it's just first step !

anonymous · Answer

oooo wait do u no what the answer is because i think i got it and i got 95.43 but i feel like im wrong because i suck at this lol

anonymous · Answer

Let me do the calculation!

anonymous · Answer

alright lol

anonymous · Answer

thats not one of the answers

anonymous · Answer

$105.35 

 $122.80 

 $74.17 

 $95.44

anonymous · Answer

Sally purchased a dining room set for $1,780 using a 12-month deferred payment plan with an interest rate of 25.48%. She did not make any payments during the deferment period. What will Sally’s monthly payment be if she must pay off the dining room set within two years after the deferment period? 

 $105.35 

 $122.80 

 $74.17 

 $95.44 
thats them together

anonymous · Answer

ok hahaha

anonymous · Answer

=  $122.7968

anonymous · Answer

thank you so much