Question: John bought a dining set on a contract that requires weekly payments of $9.55 for 3.5 years. The first payment is made on the date
John bought a dining set on a contract that requires weekly payments of $9.55 for 3.5 years. The first payment is made on the date of signing and interest is 14.5% compounded semiannually. a) What was the purchase price of the dining set? Mode A. N= Price = b) After 84 payments, John decided to pay off the remaining balance. What is the balance? Balance = c) How much will John pay in total, including 84 regular payments and the remaining balance? How much is the interest? Total paid = A. Interest =
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
