Question

Lillian made a down payment of $150 on some hockey equipment. The balance of the purchase price was paid for using a deferred payment plan with an 18-month introductory period. The interest rate is 26.79%. If the purchase price of the hockey equipment was $975 and minimum payments of $12 were made during the deferment period, what is the balance after the deferment period?

Answer 1

s the definition of the deferment period that no interest accumulates during the deferment period? @valenbric

Answer 2

In this one I think there is no interest during the deferment period because it says introductory period.

Answer 3

@darkb0nebeauty

Answer 4

then i cant help

Answer 5

Can you try it calculating interest though?

Answer 6

my choices are $1,011.60

$1,084.80

$1,215.60

$1,227.60

Answer 7

@darkb0nebeauty