Hannah purchased a jet ski for $3,849 using a 12-month deferment plan. The interest rate is 25.67%. A down payment of $575 is required as well as a minimum monthly payment of $92. What is the balance at the beginning of the 13th month if only the minimum payment is made during the introductory period?

Question

anonymous · Answer

$4,128.72
	$3,282.99
	$3,116.72
	$4,220.72

anonymous · Answer

@Hero please help me

anonymous · Answer

Roberta owes $7,312 on a credit card with a 26.2% interest rate compounded monthly. What monthly payment should she make to pay off this debt in five years, assuming she does not charge any more purchases with the card?

	$219.79
	$121.87
	$1,923.06
	$699.58

then there is this one

hero · Answer

@hemmohgosh5sos, one question per thread please.

hero · Answer

By the way, what concepts are you studying in class currently?

anonymous · Answer

financial algebra

anonymous · Answer

apr, apy, etc.

hero · Answer

How far have you gotten with this problem? Can you please show the work you've done up to the point where you are stuck? At the very least, explain how you think the problem is supposed to be solved.

anonymous · Answer

i just have a really hard time with deferred plans i know there's no interest until the 13th month. I was going to try to study a little on this and find the equation but i'm taking a test right now

hero · Answer

You should really have read the Code of Conduct. We are forbidden from helping with tests.

anonymous · Answer

alright then, thanks anyways.