Mathematics 74 Online
TheJag18:

(Total Costs and Debt Payoff MC) A teacher purchased a bedroom set for \$1,752, after a \$125 down payment, using a 12-month deferred payment plan with an APR of 17.50% compounded monthly. Determine the total amount paid if, after the deferment period, the teacher pays \$103.56 per month, for 24 months, until the balance is paid off. \$1,958.07 \$2,485.44 \$2,610.44 \$2,089.06

Phantomdex:

The total amount paid by the teacher for the loan is \$2,610.44. The correct answer is option C.

Phantomdex:

A is too low for this one. B would make more sense but the calculations don't add up and D is also a little too low.

TheJag18:

thank you :)

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