Question

Matthew purchased a washer and dryer for $2,315 using an 18-month deferred payment plan with an interest rate of 24.92%. What is the balance after the deferment period if payments of $95 were made each month?

Answer 1

I think it would be $512.1
2,315/24.92= 92.90
2315-92.90=222.1
95x18=1710
222.1-1710=512.1
I'm not certain that's how you do it but I think so

Answer 2

Oh I figured out the answer. Thanks for helping :)