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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

2 Answers

4 votes
Answer:

Is the B $1,250.00
User Machfour
by
8.2k points
3 votes

Answer:

A is the correct answer to the problem!

User Rieljun Liguid
by
8.0k points
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