Question

PLEASE ANSWER ASAP Becky purchased a home entertainment center for $2,254 using an 18-month deferred payment plan with an interest rate of 22.48%. She did not make any payments during the deferment period. What will Becky's monthly payment be if she must pay off the home entertainment center within three years after the deferment period?

$121.01

$87.45

$62.61

$113.72

Answer 1

The correct answer for your problem would be $62.61

Answer 2

$62.61

Explanation:

Data:

The price of home entertainment = $ 2 254

Time to pay = 18 months

interest rate = 22.48 %

monthly payment = $ 2254/ 18

= $ 125. 22

= - 22.48 (2254)/18

= $ 62.61