Question

** PLEASE HELP, I DESPERATELY NEED IT ***



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?

$1,011.60

$1,084.80

$1,215.60

$1,227.60

Answer 1

The answer is C 1,215.60

Answer 2

Thanks!

Answer 3

Wait did you already do this test? Because I got 1084.80 when I plugged in everything

Answer 4

yep APR test right ?

Answer 5

Well I'm doing the practice exam but I guess it's part of APR, thanks!