Hal. Julio purchased some bbpower tools totaling $2,174 using a six-month deferred payment plan with an interest rate of 28.19%. He did not make any payments during the deferment period.
What will the total cost of the power tools be if he must pay off the power tools within two
years after the deferment period?
$2,499.00
$3,297.84
$2,174.00
$4,122.30