Mathematics, 03.11.2020 21:10 Govind4954
Jerry buys a $3500 motorcycle on a deferred payment plan. There is no down payment
and no interest for 18 months. Jerry must make a minimum payment of $95 a month. To
avoid a retroactive APR of 21%, he must pay the balance in full before the 18 months has
passed. If he pays $95 each month, how much should he pay the last month to avoid the
interest charges?
Answers: 1
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Jerry buys a $3500 motorcycle on a deferred payment plan. There is no down payment
and no interest...
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