Ask your own question, for FREE!
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 :)

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!