Charlotte purchased a pool for $7680 using a six-month deferred payment plan with an interest rate of 20.45%. She did not make a

Question

2 years ago

8

Charlotte purchased a pool for $7680 using a six-month deferred payment plan with an interest rate of 20.45%. She did not make a

ny payments during the deferment period. What will Charlotte's monthly payment be if she must pay off the pool within three years after the deferment period?

Mathematics

1 answer:

Georgia [21] · Answer 1 · 2022-04-21T10:26:42+03:00

Georgia [21]2 years ago

6 0

$7680:100%=$x:120.45%, 100x=7680*120.45, x=(7680*120.45)/100, x=$9250.56
Cost of the pool with interest rate is $9250.56.
3yr*12mo=36mo
$9250.56/36mo=256.96$/mo

<span> Charlotte's monthly payment will be $256.96.</span>