Question

Andrew purchased a living room set for $2,276 using an 18-month deferred payment plan with an interest rate of 23.49%. What is the balance after the deferment period if no payments are made?
a.) $2,276.00
b.) $2,810.63
c.) $3,123.34
d.) $3,226.39

Answer 1

The answer is c)3,123.34