Question

Susannah purchased a lawnmower for $1,250 using a six-month deferred payment plan. The interest rate after the introductory period is 25.99%. No down payment is required, but there is a minimum monthly payment of $30. What is the balance at the beginning of the seventh month if only the minimum payment is made each month during the introductory period? (4 points)
a $1,070.00
b $1,250.00
c $1,241.49
d.$1,421.49

Answer 1

Answer:

A is the correct answer to the problem!

Answer 2

Answer:

Is the B $1,250.00