Earl purchased a living room set for $3,592 using a 12-month deferred payment plan. The interest rate after the introductory period is 21.80%. A down payment of $275 is required as well as a minimum monthly payment of $112. What is the balance after the introductory period if only the minimum payment is made until then?

I know that I will use the formula:
B=P(1+i)^nt

B=?
P= principle-down payment = 3592-275 = 3317
t= 2
n = 12
i=21.8/12 =1.81666667

But I keep coming up with crazy answers, are all of my variables correct?

Question

Earl purchased a living room set for $3,592 using a 12-month deferred payment plan. The interest rate after the introductory period is 21.80%. A down payment of $275 is required as well as a minimum monthly payment of $112. What is the balance after the introductory period if only the minimum payment is made until then?


I know that I will use the formula:
B=P(1+i)^nt 

B=?
P= principle-down payment = 3592-275 = 3317
t= 2 
n = 12 
i=21.8/12 =1.81666667

But I keep coming up with crazy answers, are all of my variables correct?