Edgar purchased a living room set for $4,258 using a 12-month deferred payment plan. The interest rate after the introductory period is 18.70%. A down payment of $325 is required as well as a minimum monthly payment of $117. What is the balance after the introductory period if only the minimum payment is made until then?

Question

anonymous · Answer

I know that I have to do this:
4258 - 325 - (12*117) = 2529... 
then I'm stuck... like I dont know how to get the final answer.. I know I have to get an interest but dont know how...

anonymous · Answer

@dpaInc @ghazi @kropot72 @RadEn