if jennifer pays off the couch in one year, she will have to pay no interest. If she pays off her balance in 12 equal monthly installments, how much will she pay each month?
2 answers
You forgot to post the amount of her balance.
That depends upon how much she spent.
Some stores require you to pay monthly interest on "no interest for one year" promotions, and then refund the interest at the end of a year if the debt is paid off.
Assuming there is not interest to pay, ever, divide the cost by 12 for the monthly payment.
Some stores require you to pay monthly interest on "no interest for one year" promotions, and then refund the interest at the end of a year if the debt is paid off.
Assuming there is not interest to pay, ever, divide the cost by 12 for the monthly payment.
1 answer