Question

Sheila purchased ski equipment for $513 using a six-month deferred payment plan. The interest rate after the introductory period is 18.39%. A down payment of $125 is required as well as a minimum monthly payment of $65. What is the balance at the beginning of the seventh month if only the minimum payment is made during the introductory period?

$47.01

$360.07

$0.00

$425.07

Answer 1

$0.00

Answer 2

@goformit100 why tho