Question

**Correct Me Please [Work Is Shown]
Jefferson purchased some power tools totaling $1,286 using a six-month deferred payment plan with an interest rate of 21.52%. He did not make any payments during the deferment period. What will the total cost of the power tools be if he must pay off the power tools within two years after the deferment period?
$1,286.00

$2,216.40

$1,430.73

$1,773.12<----
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**Workk I Done :D
A=1,286(1+(0.2152)/(6))^(6*1) = 1,430.73 :D
Then
http://www.wolframalpha.com/input/?i=P+%3D+1430.73%28%280.2152%2F12%29*%281+%2B+0.2152%2F12%29%5E%2812*2%29

Answer 1

Then multiply by 24 :D

Answer 2

39.308*24 is 943.39 which is not enough to pay off the total

Answer 3

P=73.8849 * 24

Answer 4

your link to wolfram gives the wrong payment.

do you mean this
http://www.wolframalpha.com/input/?i=P+%3D+1430.73%28%280.2152%2F12%29%2F%281-+%281+%2B+0.2152%2F12%29%5E%28-12*2%29%29%29

Answer 5

@phi yea that one lol sorry !

Answer 6

A=1,286(1+(0.2152)/(6))^(6*1) this should be
A=1,286(1+(0.2152)/(12))^(6*1)
but you got the correct amount 1430.73, so I assume it is a typo

Answer 7

the payment is 73.8849
if you round that down to 73.88
and multiply by 24 months you get 24*73.88= 1773.12

Answer 8

My answer is right :D ?